Catalytica Fine Chemicals Inc. Announces $15 Million Investment by Pfizer.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 8, 1996--Catalytica Fine Chemicals Inc. today announced that Pfizer Inc. plans to invest $15 million in Catalytica Fine Chemicals, which is a subsidiary of Catalytica Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CTAL CTAL Confederacion de Trabajadores de America Latina (Confederation of Latin American Workers) CTAL Canadian Tire Acceptance Limited CTAL Computer Technology Application Lab, Inc. CTAL Confidentially Typed Assembly Language ). The investment will give Pfizer a 15 percent interest in Catalytica Fine Chemicals and a five-year commitment by Catalytica Fine Chemicals to provide R&D services devoted to developing novel processes and technology for Pfizer. The collaboration provides Catalytica Fine Chemicals an opportunity to contribute to the development of key intermediates for drugs in the Pfizer product pipeline. During the past four years, Catalytica Fine Chemicals and Pfizer have collaborated on the development of proprietary processes for key intermediates for several promising new pharmaceuticals. "This agreement is a significant step forward in our strategy to develop R&D and manufacturing alliances with select major pharmaceutical companies," said James A. Cusumano, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Catalytica Fine Chemicals. "The relationship will enable us to focus on developing efficient manufacturing technologies for high-profile drugs. Pfizer is one of the premier innovators in the pharmaceutical industry and we are pleased to be working with them," he said. Daniel P. O'Shea, senior vice president of Development Research of Pfizer's Central Research in Groton, Conn., added that "Catalytica Fine Chemicals' demonstrated expertise in catalysis catalysis Modification (usually acceleration) of a chemical reaction rate by addition of a catalyst, which combines with the reactants but is ultimately regenerated so that its amount remains unchanged and the chemical equilibrium of the conditions of the reaction is not technology -- and its ability to quickly scale up this technology to provide development and commercial quantities of key building blocks -- has been pivotal to our strategy to move drug candidates quickly and creatively through development." "In our expanded relationship with Catalytica Fine Chemicals we will build on the strengths of our two organizations," he said. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflecting Catalytica's current expectations. There can be no assurance that Catalytica's actual future performance will meet current expectations. Among the factors that could cause actual results to differ materially are the effect of FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. regulations and foreign regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities on Catalytica's fine chemical manufacturing efforts, and competition from pharmaceutical companies that produce their own fine chemicals and from other fine chemical manufacturers. Investors are encouraged to review Catalytica's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year-ended Dec. 31, 1995 (Part II, Item 7) for a more complete discussion of factors that could affect Catalytica's future performance. Catalytica Fine Chemicals, a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Catalytica Inc., manufactures fine chemical building blocks for the pharmaceutical industry. Catalytica Inc. produces and develops advanced products that use proprietary catalytic technologies to lower manufacturing costs and reduce hazardous byproducts. In addition to the production of pharmaceutical intermediates, Catalytica Inc. develops advanced combustion systems to reduce toxic emissions generated by natural gas turbines. -0- Note to Editors: Catalytica Web address: http://www.catalytica-inc.com CONTACT: Catalytica Fine Chemicals Inc. Kathleen Tridente, 302/234-1119 Jane Sutton, 415/940-6253 |
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