News

Posted On: 07/03/2008

Patheon Reaches Agreement with BSP Pharmaceuticals for Development and Manufacture of Cytotoxics

PharmaManufacturing.com

Patheon, a global provider of drug development and manufacturing services to the international pharmaceutical industry, has completed a shareholders agreement and a sales and marketing agreement with Italy's BSP Pharmaceuticals, a company focused on the development and manufacturing of cytotoxic pharmaceutical products. Under the terms of the sales and marketing agreement, Patheon will promote BSP's cytotoxic manufacturing capacity and development services. Mr. Aldo Braca, President, Patheon Europe will be President and Chief Executive Officer of BSP Pharmaceuticals. Patheon is in the process of identifying a successor to Mr. Braca and for a transitional period, Mr. Braca will fill both roles.

"Cytotoxic manufacturing represents a major market opportunity, and a capability that Patheon does not have in its network. With these agreements in place, Patheon can now offer its clients a complete suite of services - which now includes cytotoxics - in contract manufacturing and formulation development." said Wes Wheeler, Chief Executive Officer and President.

Cytotoxic products play a significant role in the world's oncology market, which is estimated to be approximately $9.6 billion in the seven major pharmaceutical markets of U.S., U.K., Germany, France, Italy, Spain, and Japan and is expected to reach $12.8 billion by 2009.