Millipore Corporation Unveils Expanded Drug Discovery Development Facility; Expansion Includes New Labs, Offices, Employees
BILLERICA, Mass -- Millipore Corporation, a Life Science leader providing technologies, tools and services for bioscience research and biopharmaceutical manufacturing, today unveiled a major expansion of its St. Charles, Missouri facility - headquarters for its Drug Discovery Business Unit.
The $3.4 million expansion will enable Millipore to keep pace with the growth of its worldwide drug discovery and development business, which provides products and services that help pharmaceutical and biotechnology companies discover, evaluate and develop drug candidates.
"The expansion of our St. Charles facility is a demonstration of our ongoing commitment to expanding our capabilities in the drug discovery market and investing in people and facilities that will help us deliver innovative products and services to our customers," said Martin Madaus, Millipore Chairman, CEO and President. "Through acquisition and internal growth, we have emerged as a major player in the drug discovery market and we are transforming into a life science leader."
As part of that transformation, in 2006 Millipore acquired Serologicals Corporation - and with it, the former Linco Research business which was headquartered in St. Charles.
"Our expanded St. Charles facility will help us meet the needs of customers at every stage of the drug discovery and development pipeline - from target identification through clinical studies," noted Rick Ryan, Vice President of Millipore's Drug Discovery and Development Business Unit. "It will also enable us to continue to expand our workforce in the greater St. Louis region."
Millipore plans to hire an additional 60 employees at the St. Charles site, which currently employs 187 people.
Millipore is seeking LEED certification of the expanded and renovated 17,000-square-foot space, which is just one of Millipore's three buildings on the 43-acre Missouri Research Park campus. The newly expanded and renovated space houses laboratories, administrative offices and an enlarged break area.
Millipore will hold a dedication ceremony at the site at 11 a.m. today. Millipore CEO Martin Madaus along with other Millipore executives and local officials will be on hand for the event, which will include a ribbon cutting and facility tours.
Millipore (NYSE: MIL - News) is a Life Science leader providing cutting-edge technologies, tools, and services for bioscience research and biopharmaceutical manufacturing. As a strategic partner, we collaborate with customers to confront the world's challenging human health issues. From research to development to production, our scientific expertise and innovative solutions help customers tackle their most complex problems and achieve their goals. Millipore Corporation is an S&P 500 company with more than 6,000 employees in 47 countries worldwide. For more information, please contact Millipore Tech Service at 1-800-548-7853 or 951-676-8080 or visit www.millipore.com.
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Safe Harbor Statement
Certain of the matters discussed herein, as well as in future oral and written statements by management of Millipore Corporation that are forward-looking statements, are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements.
Potential risks and uncertainties that could affect Millipore's future results include, without limitation, inability to deliver drug discovery products that meet customer needs, failure to achieve design wins into our pharmaceutical and biotechnology customers' manufacturing design phase for a particular drug; delay, suspension or termination of a customer's volume production; fluctuations in the timing of customers' orders; lack of availability of raw materials or component products on a timely basis; regulatory delay in the approval of new therapeutics; limitations on cash flow for operations and investment due to debt service obligations; the inability to establish and maintain necessary product and process quality levels; the inability to realize the expected benefits of development, marketing, licensing and other alliances; competitive factors such as new membrane or chromatography technology; risks relating to our concentration of principal manufacturing operations; the inability to successfully integrate acquired businesses; the inability to utilize technology in current or planned products due to overriding rights by third parties; potential environmental liabilities; conditions in the economy in general and in the bioscience and bioprocess markets in particular; foreign exchange fluctuations; reduced private and government research funding; exposure to product liability claims; and difficulties inherent in transferring or outsourcing of manufacturing operations. Please refer to our filings with the SEC, including our most recent Annual Report on Form 10-K, for more information on these and other risks that could cause actual results to differ