IDT 3.70% 14.0¢ idt australia limited

great ann. re pfizer contract

  1. 1,523 Posts.
    IDT TO DEVELOP AND MANUFACTURE
    NEW DRUG CANDIDATE FOR PFIZER
    Institute of Drug Technology Australia Ltd (IDT) has won a substantial contract with Pfizer Inc,
    the world’s largest pharmaceuticals manufacturer, for the development and manufacture of a
    new developmental drug candidate.
    IDT chairman and managing director Dr Graeme Blackman said today the contract was a longterm,
    multi-million dollar agreement. IDT is constrained from giving precise financial details
    because of contract confidentiality.
    IDT will be paid on a fee-for-service basis, which means the contract will make an immediate
    contribution to the company’s revenue and earnings.
    Dr Blackman said the agreement was strategically significant for IDT. “It provides us with an
    exciting opportunity to move further into the manufacture of finished containment products and
    this offers the company significant commercial growth opportunities.”
    Under the contract, IDT will provide a range of services to Pfizer including:
    process development and manufacture of active pharmaceutical ingredients
    manufacture of sterile and solid dosage formulations
    clinical labeling and packaging of drug supplies
    The contract also grants Pfizer exclusive access to one of IDT’s state-of-the-art containment
    manufacturing facilities in Boronia, Victoria.
    Dr Blackman said the agreement built on the long-term relationship between Pfizer and IDT.
 
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