Cryopak and Novartis Partner to Optimize Cold-Chain Management.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--April 24, 2002 Cryopak Industries Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CYPKF)(CDNX CDNX See Canadian Venture Exchange (CDNX). : CII CII Confederation of Indian Industry CII Chartered Insurance Institute (UK) CII Construction Industry Institute (University of Texas) CII Council of Institutional Investors ) is pleased to announce that it has entered into a partnership arrangement with Novartis Pharma to work with the global pharmaceutical leader to systematize sys·tem·a·tize tr.v. sys·tem·a·tized, sys·tem·a·tiz·ing, sys·tem·a·tiz·es To formulate into or reduce to a system: "The aim of science is surely to amass and systematize knowledge" and optimize its cold-chain management procedures in North America. John Morgan, 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 Cryopak commented, "In addition to growing our revenue through the sale of services and providing a significant opportunity for future product sales, the addition of Novartis to our client list, alongside Wyeth Pharmaceutical and GlaxoSmithKline, speaks to the value of our intellectual property and our growing credibility in the pharmaceutical industry." Novartis AG is a world leader in healthcare with core businesses in pharmaceuticals, consumer health, generics, eye-care, and animal health. In 2000, the Novartis Group's ongoing businesses achieved collective sales of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 17.2 billion and a net income of USD 3.9 billion. The Group invested approximately USD 2.4 billion in R&D. Novartis AG is headquartered in Basel, Switzerland. Novartis Group companies employ about 70,000 people and operate in over 140 countries around the world. For further information please consult http://www.novartis.com. Cryopak Industries Inc. develops, manufactures and markets quality temperature-controlling products such as the premium patented Cryopak Flexible Ice(TM) Blanket, flexible hot and cold compresses, gel packs, and instant hot and cold packs. The products are used during transport to ensure critical temperature maintenance for pharmaceuticals, blood, airline food and beverages, seafood and all other perishable items. The Company's products are also used for first aid, medical and physiotherapy treatments, and, through retail distribution, for daily all-purpose chilling applications. With almost 10 years of experience in research and development, Cryopak also offers expert testing and consulting services to help companies optimize their cold-chain management programs. For more information about Cryopak Industries Inc. or its products, visit the Company's website at www.cryopak.com. Cryopak Industries Inc. trades on both the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. and on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) (OTCBB: CYPKF and CDNX: CII). On Behalf the Board of Directors, John F. Morgan, CEO, President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ from those expressed or implied. |
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