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BURROUGHS WELLCOME PURCHASES GENETICS INSTITUTE STAKE IN WELGEN BIOTECH MANUFACTURING FACILITY

 BURROUGHS WELLCOME PURCHASES GENETICS INSTITUTE
 STAKE IN WELGEN BIOTECH MANUFACTURING FACILITY
 RESEARCH TRIANGLE PARK, N.C., Sept. 28 /PRNewswire/ -- Burroughs Wellcome Co. today announced the signing of an agreement by its subsidiary BW Manufacturing, Inc. to purchase the interest held by GI Manufacturing, Inc., a subsidiary of Genetics Institute, Inc. (NASDAQ-NMS: GENI) in WelGen Manufacturing Partnership, a biotechnology manufacturing joint venture that the two companies formed in 1986.
 Under the terms of the agreement, BW Manufacturing will purchase 100 percent of the interest currently held by GI Manufacturing for a consideration of approximately $24 million. BW Manufacturing will continue manufacturing products at the venture's West Greenwich, R.I., manufacturing facility.
 The Rhode Island facility will operate under the name BW Manufacturing, Inc. and will be headed by General Manager John McConney. It will be a wholly owned subsidiary of Burroughs Wellcome Co., a research-based pharmaceutical company headquartered in Research Triangle Park, N.C.
 To date, the Wellcome group has been the sole user of the manufacturing site. A portion of the bulk production of Wellcome's alpha interferon product Wellferon(R) currently is based in the Rhode Island facility.
 Wellferon is marketed as a treatment for hairy cell leukemia and chronic active hepatitis B in a number of countries. Clinical trials are being conducted in the United States in patients with hepatitis C and in individuals with HIV infection. Wellferon also has been studied as a treatment for genital warts and juvenile laryngeal papillomatosis.
 "Biopharmaceutical products and manufacturing play an important part in our new product portfolio," said Philip R. Tracy, president and CEO of Burroughs Wellcome. "This acquisition expands our company's capability to pursue full clinical and commercial development of products developed through biotechnology and to manufacture them in a state-of-the-art facility."
 Among the products under development by the Wellcome group is a genetically engineered humanized monoclonal antibody called Campath-1H(TM). Campath-1H is currently undergoing studies of its potential usefulness in treating lymphomas and rheumatoid arthritis.
 Burroughs Wellcome is a wholly owned subsidiary of The Wellcome Foundation Ltd. (Wellcome plc), an international pharmaceutical company headquartered in London. Last year, the Wellcome group invested $409 million in research and development.
 -0- 9/28/92
 /CONTACT: Kathy S. Bartlett, 919-248-4302, or Mike Freeman, 919-248-3172, both of Burroughs Wellcome, or Melinda Lindquist of Genetics Institute, 617-876-1170/
 (GENI) CO: Burroughs Wellcome Co.; BW Manufacturing, Inc.; GI Manufacturing,
 Inc.; Genetics Institute, Inc.; WelGen Manufacturing Partnership ST: North Carolina, Rhode Island IN: MTC SU: TNM


CM -- CH001 -- 3830 09/28/92 08:39 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
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