Corning Pharmaceutical Services Acquires National Packaging Systems Inc.; Clinical-Support Company Provides Materials For Drug-Development Trials.CORNING, N.Y.--(BUSINESS WIRE)--Jan. 9--Corning Pharmaceutical Services Inc., a subsidiary of Corning Incorporated Corning Incorporated NYSE: GLW is an American manufacturer of glass, ceramics and related materials, primarily for industrial and scientific applications. The company was known until 1989 as Corning Glass Works. (NYSE NYSE See: New York Stock Exchange :GLW GLW Glasgow Airport (UK) GLW Gross Laden Weight GLW Good Lady Wife (Australia) ), today announced it has purchased National Packaging Systems Inc., a leading supplier of clinical-trial packaging and related services to the pharmaceutical and biotechnology industry. The company will be renamed Corning National Packaging Inc. Terms of the sale were not disclosed. Based in Allentown Allentown, city (1990 pop. 105,090), seat of Lehigh co., E Pa., on the Lehigh River; inc. as a borough 1811, as a city 1867. The largest city in the agricultural and industrial Lehigh Valley, it is a commercial, financial, and government center. , Pa., National Packaging Systems Inc. was founded in 1989 by Kevin J. Flanagan Jr., who remains as president and chief executive officer. Privately held, it had revenues of about $10 million for its 1993- 94 fiscal year. National Packaging Systems Inc. supplies pharmaceutical companies with appropriately packaged materials to conduct double-blind trials of new drugs. These trials are required by the U.S. Food and Drug Administration and other regulatory bodies to demonstrate the safety and effectiveness of new drugs. Double blinding eliminates bias by administering either the drug or a placebo placebo (pləsē`bō), inert substance given instead of a potent drug. Placebo medications are sometimes prescribed when a drug is not really needed or when one would not be appropriate because they make patients feel well taken care of. in such a way that neither the patient nor the physician knows until after the trial who received which. Clinical-trials packaging is a crucial component of the drug- development process, said Christopher A. Kuebler, president of Corning Pharmaceutical Services. Timely supply of these materials can help prevent costly delays in the startup of clinical trials. By acquiring National Packaging Systems, we re broadening our drug- development capabilities and providing even greater reliability, responsiveness and flexibility to our clients. Corning Pharmaceutical Services was formed in 1992 to assist pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. in all phases of drug development. A unit of Corning Life Sciences Inc. (CLSI CLSI Clinical and Laboratory Standards Institute (Wayne, PA) CLSI Cisco Link Services Interface ), Corning Pharmaceutical Services comprises the following businesses: Besselaar, Hazleton, SciCor and PACT. CLSI is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Corning Incorporated. Corning Incorporated is a Fortune 200 company that competes in four business segments: specialty materials, communications, laboratory services and consumer products. Its 1993 revenues totaled $4 billion. CONTACT: Corning
Investor Relations Contact
Richard B. Klein, 607/974-8313
Andy Norton, 607/974-8769
or
National Packaging Systems: Kevin J. Flanagan Jr.
610/391-0800
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