AMRI Reaches Supply Agreement With Genovi; Names Felicia Ladin CFO - Quick Facts

(RTTNews) - AMRI (AMRI) said Monday that it has entered into several development and supply agreements with Genovi Pharmaceuticals Limited, a specialty generic pharmaceutical company, to manufacture select generic parenteral drug products for registration and subsequent commercialization in the U.S., Europe, and select emerging markets.

As per the terms of the agreements, AMRI will initially provide cGMP manufacture and analytical support for the registration of five product candidates. AMRI will be reimbursed for technology transfer activities, analytical development and manufacture of regulatory submission batches.

In addition, AMRI is eligible to receive additional payments for achieving product delivery milestones. Following U.S. Food and Drug Administration approval, AMRI will supply the products to Genovi pursuant to the agreements, and for some products, receive payments based on Genovi's sales of the products. Financial details of the agreements have not been disclosed.

In a separate press release, AMRI said that Michael Nolan, senior vice president and chief financial officer, will be departing AMRI. Nolan will remain with AMRI through February 2015 to support an orderly transition.

The company also announced that Felicia Ladin will join the company in the same role, effective February 4, 2015.

Ladin has more than 20 years of finance, accounting and tax management experience. A CPA by training, Ladin has spent the majority of her career in the pharmaceutical industry, most recently as Senior Vice President, CFO, Global Specialty Medicines at Teva Pharmaceuticals, USA. Between 2008 and 2014, Ladin held positions of increasing responsibility directing Teva's financial planning and analysis operations, and from 2002 to 2008 was tax director for the U.S. During her 12 year tenure at Teva, Ladin was instrumental in developing and implementing financial systems and infrastructure through a number of acquisitions, and driving consistency and efficiencies across locations, supporting the Specialty Medicine division's growth into an $8 billion global business.

The company intends to release its fourth quarter and full year 2014 financial results and 2015 guidance, including the most recent acquisitions, in February 2015.