Somerset, N.J. – Catalent Pharma Solutions, a unit of Catalent, Inc. (NYSE: CTLT), the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, today announced the opening of a large scale expansion at its Winchester, KY, manufacturing facility, which has seen the doubling of its footprint to 180,000 sq. ft. The expansion features newly installed fluid bed capacity, expanded analytical laboratories, and an advanced, open facility design that provides flexibility in supporting the requirements of new customer programs. The expansion was officially opened by the Lieutenant Governor of Kentucky, the Honourable Crit Luallen, at a ribbon cutting ceremony earlier today.
The expansion was completed in response to increased customer demand for the manufacture of complex, oral solid formulations. Catalent's Winchester facility has more than 20 years of experience in product development, technology transfer and commercial manufacturing. The site has produced over 3 billion tablets and capsules annually and launched more than 100 new products into the market since its inception.
Speaking at the opening John Chiminski, Catalent's President & Chief Executive Officer commented: "The Winchester facility has grown through its continued investment in technical expertise and capability, and through employing a flexible business model to support tailored manufacturing solutions for its customers. This flexibility, along with our proven track record of success with technology transfers and product launches, has clearly driven increased demand for manufacturing services at Winchester, and our latest capacity expansion allows us to manufacture substantial marketed products for both new and existing customers."
Opened in 1992, Catalent's Winchester facility has evolved into one of the industry's premier sites for advanced oral controlled-release drug formulation and manufacturing. Construction work on the expansion began in 2013 with a $35M facility investment, followed by a subsequent investment in additional fluid bed capacity. The expansion will add as many as 140 new employees at the site, with potential to add further employees and capabilities as customer demand for Winchester's manufacturing solutions continues to grow.
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Catalent is the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products. With over 80 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable clinical and commercial product supply. Catalent employs approximately 8,500 people, including over 1,000 scientists, at 30 facilities across 5 continents, and in fiscal 2014 generated more than $1.8 billion in annual revenue. Catalent is headquartered in Somerset, N.J. For more information, visitwww.catalent.com
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FORWARD LOOKING STATEMENTS
This release contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "estimate," "plan," "project," "foresee," "likely," "may," "will," "would" or other words or phrases with similar meanings. Similarly, statements that describe our objectives, plans or goals are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Catalent, Inc.'s expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: participation in a highly competitive market and increased competition may adversely affect the business of the Company; demand for the Company's offerings which depends in part on the Company's customers' research and development and the clinical and market success of their products; product and other liability risks that could adversely affect the Company's results of operations, financial condition, liquidity and cash flows; failure to comply with existing and future regulatory requirements; failure to provide quality offerings to customers could have an adverse effect on Catalent, Inc.'s business and subject the Company to regulatory actions and costly litigation; problems providing the highly exacting and complex services or support required; global economic, political and regulatory risks to the operations of the Company; inability to enhance existing or introduce new technology or service offerings in a timely manner; inadequate patents, copyrights, trademarks and other forms of intellectual property protections; fluctuations in the costs, availability, and suitability of the components of the products the Company manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials; changes in market access or healthcare reimbursement in the United States or internationally; fluctuations in the exchange rate of the U.S. dollar and other foreign currencies; adverse tax legislation initiatives or challenges to the Company's tax positions; loss of key personnel; risks generally associated with information systems; inability to complete any future acquisitions and other transactions that may complement or expand the business of the Company or divest of non-strategic businesses or assets and the Company's ability to successfully integrate acquired business and realize anticipated benefits of such acquisitions; offerings and customers' products that may infringe on the intellectual property rights of third parties; environmental, health and safety laws and regulations, which could increase costs and restrict operations; labor and employment laws and regulations; additional cash contributions required to fund the Company's existing pension plans; substantial leverage resulting in the limited ability of the Company to raise additional capital to fund operations and react to changes in the economy or in the industry, exposure to interest rate risk to the extent of the Company's variable rate debt and preventing the Company from meeting our obligations under our indebtedness. For a more detailed discussion of these and other factors, see the information under the caption "Risk Factors" in Catalent Inc.'s10-K for the fiscal year ended June 30, 2014, filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release or as of the date they are made, and Catalent, Inc. does not undertake to update any forward-looking statement as a result of new information or future events or developments except to the extent required by law.