Akrimax Pharmaceuticals Purchases Rouses Point Plant

Plant Will Remain Among Largest Private North Country Employers

ROUSES POINT, N.Y., Jan. 15 /PRNewswire/ -- Akrimax Pharmaceuticals
announced today that it has acquired the drug product manufacturing and
packaging plant in Rouses Point, New York from Wyeth.
The acquisition by Akrimax averts closure of the plant, which has been a
fixture in Rouses Point for several decades and one of the largest private
employers in the North Country since the 1980s. Wyeth announced in late 2005
that its operations at the Rouses Point plant would be phased out due to
changes in product demand and an assessment of its manufacturing network.
Akrimax is an emerging branded pharmaceutical company led by a core
management team of experienced pharmaceutical executives with expertise in
development, manufacturing, distribution, marketing and sales of
pharmaceutical products.
Akrimax founders, Joseph Krivulka and Leonard Mazur, said they are pleased
to bring an experienced pharmaceutical team back to the North Country. In
1993, Krivulka acquired Bertek Inc. on behalf of Mylan Laboratories in St.
Albans, Vermont, and as its president transformed it into a leading branded
pharmaceutical entity. He served in that capacity until mid-1997.
"It is a thrill to be back in the North Country and with the fine people
of the area," Krivulka said. "Together, we will seek to maintain this facility
in its rightful place in the North Country economy."
As set forth in the agreement, Wyeth and Akrimax will have a cooperative
relationship during a transition period that begins with today's purchase of
the site and concludes at the end of 2009. During this transition period,
Akrimax will lease the facility back to Wyeth, so that Wyeth can continue
manufacturing its products, while Akrimax begins integrating its own products
into the facility. Akrimax intends to bring additional business to the
facility through contract manufacturing agreements with third parties.
Akrimax intends to fulfill its hiring needs from the Wyeth workforce at
the site when the transfer of operations occurs in late 2009. "Our plan is to
develop, manufacture and distribute pharmaceutical products from our own
product portfolio and other third-part contracts," Krivulka said. "We will
accomplish that with the special expertise and knowledge of the people at this
terrific plant."
David Champagne, managing director for Wyeth at Rouses Point, said: "Over
the past two years, Wyeth's goal was to actively identify a buyer for the site
who would continue pharmaceutical manufacturing to maximize the facility's
resources and take advantage of the region's strong workforce. We will partner
closely with Akrimax on a transition plan that prepares their organization to
take over operations of the site in late 2009."
The sale does not include the Chemical Development pilot plant adjacent to
the manufacturing site, where Wyeth employs approximately 90 people. Wyeth
plans to continue operations at the Chemical Development pilot plant.
The Rouses Point plant is one of the largest private employers in the
North Country, with nearly 800 manufacturing jobs. It draws employees from
Clinton, Franklin and Essex counties in New York and from several northern
Vermont towns.
Garry Douglas, president of the North Country Chamber of Commerce,
expressed his gratitude to many community and political leaders who helped
contribute to the sale of the site. He said it was an impressive mix of
local, regional, state and federal leaders coming together for a common goal.
"Continuation of pharmaceutical manufacturing at Rouses Point by Akrimax
fits directly into the strategic efforts of the North Country to ensure that
the region retains its pivotal position in the pharmaceutical industry,"
Douglas said.
For more information, contact:

Akrimax Pharmaceuticals
Timothy Soule: inquiries@akrimax.com
Kevin Ellis: Kimbell Sherman Ellis: 800-498-5390 ext. 107: Kevin@kse50.com

Wyeth
Jeff Rocke: 484-865-5219, rockej@wyeth.com

SOURCE Akrimax Pharmaceuticals

Timothy Soule of Akrimax Pharmaceuticals, inquiries@akrimax.com; Kevin Ellis
of Kimbell Sherman Ellis, +1-800-498-5390 ext. 107, Kevin@kse50.com, for
Akrimax Pharmaceuticals; or Jeff Rocke of Wyeth, +1-484-865-5219,
rockej@wyeth.com