Akrimax Pharmaceuticals Purchases Wyeth Rouses Point Plant

Plant Will Remain Among Largest Private North Country Employers
ROUSES POINT, N.Y.--(Business Wire)--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.

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

Copyright Business Wire 2008