Key Developments: Albany Molecular Research Inc (AMRI.OQ)
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Latest Key Developments (Source: Significant Developments)
Albany Molecular Research Inc Appointment of William Marth as Chairman of the Board of Directors
Albany Molecular Research Inc announced that Board of Directors has unanimously voted to separate the role of Chairman and Chief Executive Officer and has named William S. Marth, an active member of the AMRI Board of Directors, as Chairman of the Board, effective June 5, 2013. The position of Chairman has been held by Thomas E. D'Ambra, Ph.D. since the Company's founding. Full Article
Albany Molecular Research Inc Reaffirms FY 2013 Revenue Guidance; Raises FY 2013 EPS Guidance; Issues Q2 2013 Guidance
Albany Molecular Research Inc announced that for fiscal 2013, it maintains its revenue outlook of $205-$213 million, and increasing adjusted EPS range to between $0.52 to $0.65 from the previously communicated $0.34 to $0.52. For the second quarter of 2013, it expects contract revenue between $48 and $50 million and adjusted EPS of between $0.09 and $0.12. Full Article
Albany Molecular Research Inc Announces Technology Collaboration With Codexis Inc
Albany Molecular Research Inc and Codexis Inc announced that they have entered into a SMARTSOURCING partnership. The collaboration will provide opportunities to combine the two companies' capabilities and technologies for specific customer projects, yielding increased value to customers in the form of potentially lower costs, greater yields, cleaner processes and/or faster turnaround times. Under this non-exclusive, two-year agreement, the companies will align their respective strengths to identify and implement new and improved manufacturing routes for selected Active Pharmaceutical Ingredients (APIs). Combining Codexis' directed evolution technology that enables rapid enzyme discovery and optimization with AMRI's process development and manufacturing capabilities, including utilizing AMRI's microbial strains, creates synergies that will broaden both companies' ability to offer customers cost-effective, efficient and sustainable manufacturing processes. Full Article
Albany Molecular Research Inc Issues FY 2013 EPS Guidance Above Analysts' Estimates
Albany Molecular Research Inc announced that for fiscal 2013, it expects adjusted earnings per share range of $0.34 to $0.52. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.24 for fiscal 2013. Full Article
Albany Molecular Research Inc Signs Agreement For Exclusive License Of Its Tubulin Inhibitor Program For Cancer
Albany Molecular Research Inc announced that it has signed an exclusive license agreement with Chai Therapeutics, LLC for the development of ALB 109564, AMRI's novel tubulin inhibitor compound in late Phase I testing for the treatment of cancer. This agreement follows the exercise of an option to license the intellectual property, which was granted in March 2012 by AMRI to Bessor Pharma, LLC, a translational drug development company. Chai Therapeutics is an affiliate of Bessor Pharma, LLC. Under the terms of the license agreement, AMRI received an undisclosed license fee and reimbursement for certain costs associated with the intellectual property related to ALB 109564(a). Chai Therapeutics received an exclusive license to the ALB 109564(a) intellectual property, and will be solely responsible for all related research and development and patent costs going forward; AMRI will receive a share of future consideration from the further development and sales, if any, of any ALB 109564(a)-related drug that may be developed, licensed and/or commercialized. Full Article
Albany Molecular Research Inc Issues Q4 2012 EPS Guidance Above Analysts' Estimates; Raises FY 2012 EPS Guidance
Albany Molecular Research Inc announced that for fiscal 2012, it expects adjusted earnings per diluted share (EPS) from a range of $0.10 to $0.16 to a range of $0.16 to $0.20. For fourth quarter of 2012, it expects adjusted earnings per diluted share (EPS) in the range of $0.08 to $0.12. According to I/B/E/S Estimates, analysts were expecting the Company to report earnings per share (EPS) of $0.06 for the fourth quarter of 2012; EPS of $0.12 for fiscal 2012. Full Article
Albany Molecular Research Inc Announces Five-Year Extension Of API Supply Agreement With Shire plc
Albany Molecular Research Inc announced that it has entered into a multi-year supply agreement for an undisclosed product with Shire US Manufacturing Inc., whose parent company, Shire plc, is a global company that focuses its business on behavioral health, gastro intestinal diseases, rare diseases and regenerative medicine. The agreement extends a previously existing agreement between the two companies. The terms of the agreement are confidential. Full Article
Albany Molecular Research Inc Announces Strategic Contract with Knopp Biosciences
Albany Molecular Research Inc (AMRI) announced that it has entered into a new strategic agreement with Knopp Biosciences LLC, a drug discovery and development company. Under the two year term of the FTE agreement, AMRI will provide various discovery-related services that include medicinal chemistry, DMPK and computer-aided drug discovery (CADD). As part of the scope of work, AMRI scientists will collaborate with Knopp scientists and project leaders on selected novel drug discovery programs. The collaboration is extendable after two years by mutual agreement. Full Article
Albany Molecular Research Inc Appoints New Chief Financial Officer
Albany Molecular Research Inc announced the appointment of Michael Nolan as Vice President, Chief Financial Officer and Treasurer of AMRI, succeeding Mark Frost, effective September 17, 2012. Full Article
Albany Molecular Research, Inc. Issues Q3 2012 EPS Guidance In Line With Analysts' Estimates; Raises FY 2012 EPS Guidance
Albany Molecular Research, Inc. announced that for the third quarter of 2012, it expects adjusted earnings per diluted share to be $(0.04) to zero. For fiscal 2012, it is raising adjusted earnings per diluted share estimate to range from $0.10-$0.16. According to I/B/E/S Estimates, analysts were expecting the Company to report earnings per share (EPS) of $0.00 for the third quarter of 2012; EPS of $0.08 for fiscal 2012. Full Article

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