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Synovics Pharmaceuticals Announces Execution of Hormonal Manufacture and Supply Contract
Date:6/24/2008

call for the Company to continue to develop niche drug products, both prescription and over-the-counter (OTC), in categories where we have specialized manufacturing or licensing advantages (such as Drug Enforcement Administration, "DEA," licenses). Combined with our advantaged active pharmaceutical ingredient ("API") sourcing, and the new product development and manufacturing capacity we are acquiring through our growing strategic Front-End relationships in India, we believe we have we have unique and profitable opportunities to continue to grow our business."

About Synovics:

Synovics is a specialty pharmaceutical company engaged in the development, manufacturing and commercialization of prescription and OTC drugs. The Company has two operating subsidiaries, Kirk Pharmaceuticals, LLC and ANDAPharm, LLC, which manufactures and sells OTC and prescriptions private label or "store brand" drugs respectively, and Synovics Labs, Inc. a drug development subsidiary that is pursuing generic drug opportunities. Synovics employs approximately 150 people in its Ft. Lauderdale facility of 80,000. Sq Ft. The Company manufactures drug products in specialized containment suites including hormonal prescription drugs and under its Drug Enforcement Administration licenses. The Company has a Front-End strategy based business plan -- a strategy of sourcing lowest cost, highly competitive generic drug products from India, marketed to its US customer through its Ft. Lauderdale operations. Synovics' previously announced strategic partnerships with Maneesh Pharmaceuticals, LTD and Harcharan (Harry) Singh of Glopec International that represent the Company's cornerstone for its Front-End strategy in India. The Company believes cost is the single most important element in the generic drug industry and it is reaching out through its strategic partners to source products and services from a variety of smaller and quite willing independent Indian pharmaceutical companies that have t
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