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Unilife Corporation Announces Financial Results for Fiscal Year 2011 First Quarter
Date:11/15/2010

LEWISBERRY, Pa., Nov. 15, 2010 /PRNewswire-FirstCall/ -- Unilife Corporation ("Unilife" or "Company") (Nasdaq: UNIS; ASX: UNS) today announced financial results for the three months ended September 30, 2010 (Fiscal Year 2011 First Quarter).

Recent Company Highlights:

  • Construction of new global headquarters and production facility in York, PA remains fully on schedule for completion in late-2010. Expected staff relocation during mid-December 2010
  • Transfer and installation of Unitract® and Unifill® automated assembly lines into York facility scheduled to occur between late-December 2010 and early 2011
  • Secured $18 million mortgage from Metro Bank in October 2010 to support the York facility U.S. Department of Agriculture (USDA) agreed to guarantee $10 million of the loan
  • Commences Unitract 1mL syringe sales in the U.S. with appointment of IMCO, a national co-operative of independent medical device distributors. Receives 510K FDA clearance for Unitract 1mL Tuberculin syringe

  • Mr. Alan Shortall, Chief Executive Officer of Unilife, stated, "During the first fiscal quarter of 2011, our business focus has continued to be directed towards building our operational capabilities to meet projected demand from pharmaceutical and healthcare companies for our proprietary products. We are pleased to advise that as a result of these efforts, this phase of significant investment in our operational infrastructure is now nearing completion. In particular, we have made excellent progress this quarter towards the completion of our new, state-of-the-art facility in York, PA and the industrialization program for the Unifill syringe. We remain on schedule to move into the new facility next month, with commercial production of the Unifill syringe scheduled to commence during the third fiscal quarter of 2011.

    "Preparations for the comme
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    SOURCE Unilife Corporation
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