Third Compound from AMRI Bristol-Myers Squibb Collaboration Selected for Preclinical Development

AMRI to Receive Milestone Payment from Licensing Agreement
ALBANY, N.Y.--(Business Wire)--
AMRI (NASDAQ: AMRI) announced today that a third compound being developed under
its license and research agreement with Bristol-Myers Squibb Company (NYSE: BMY)
will proceed into preclinical development. AMRI will receive a $750,000 payment
from Bristol-Myers Squibb for the completion of this milestone, marking the
fifth milestone payment in the ongoing research collaboration between the two
companies.

Under the 2005 licensing agreement, Bristol-Myers Squibb received an exclusive
license to develop and commercialize a series of biogenic amine reuptake
inhibitors from AMRI`s proprietary research program. To date, Bristol-Myers
Squibb has selected two compounds from this program for approval to initiate
Phase I studies. The two companies will continue to evaluate additional
compounds under this collaboration to develop improved treatments for diseases
of the central nervous system (CNS).

Per terms of the agreement, AMRI is potentially eligible to receive up to $66
million per compound in development and regulatory milestone payments for the
first two compounds, and additional potential payments of up to $22 million per
compound on subsequent compounds. In addition, AMRI will receive royalties on
worldwide sales of commercialized compounds.

About AMRI

Founded in 1991, Albany Molecular Research, Inc. provides scientific services,
products and technologies focused on improving the quality of life. AMRI works
on drug discovery and development projects and conducts manufacturing of active
ingredients and pharmaceutical intermediates for many of the world`s leading
healthcare companies. As an additional value added service to its customers, the
company is also investing in R&D in order to expand its contract services and to
identify novel early stage drug candidates with the goal to outlicense to a
strategic partner. With locations in the U.S., Europe, and Asia, AMRI provides
customers with a wide range of services, technologies and cost models.

AMRI Forward-Looking Statement

Statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties. These
statements may be identified by forward-looking words such as "may," "could,"
"should," "would," "will," "intend," "expect," "anticipate," "believe" and
"continue" or similar words. Readers should not place undue reliance on our
forward-looking statements. The company`s actual results may differ materially
from such forward-looking statements as a result of numerous factors, some of
which the company may not be able to predict and may not be within the company`s
control. Factors that could cause such differences include, but are not limited
to (a) the company`s performance under the collaboration with Bristol-Myers
Squibb; (b) Bristol-Myers Squibb`s continuous utilization of the company`s
services at levels set forth in the contract; (c) Bristol-Myers Squibb`s
continued pursuit of programs under which the company provides services; (d)
delay or denial of marketing approvals from the FDA resulting from, among other
things, adverse FDA decisions or interpretations of data that differ from
Bristol-Myers Squibb`s interpretations and that may require additional clinical
trials or potential changes in the cost, scope and duration of clinical trials;
and (e) the outcome of clinical work that will be required to commercialize
compounds, as well as those factors discussed in the company`s Annual Report on
Form 10_K for the year ended December 31, 2008 as filed with the Securities and
Exchange Commission on March 13, 2009 and the company`s other SEC filings. The
company does not undertake any duty to and does not intend to update any
forward-looking statements contained in this press release after the date of
this press release.

Albany Molecular Research, Inc.
Media
Andrea Schulz, 518-512-2226
AMRI Corporate Communications
or
Investors
Peter Jerome, 518-512-2220
AMRI Director of Investor Relations

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