Crucell Doubles Production of Quinvaxem® in 2008 and Prepares Move to New Korean Production Site to Facilitate Growth
Leiden, The Netherlands - Dutch biopharma company Crucell N.V. (Euronext, Nasdaq: CRXL; Swiss Exchange: CRX) today announced that an agreement was reached to relocate Crucell’s Korean production facility, where its pentavalent children’s vaccine Quinvaxem® and a hepatitis B vaccine Hepavax-Gene® are produced, from the Shingal site in Yongin City, Korea to the Incheon Free Economic Zone.
All parties involved have agreed on the time line and conditions of this relocation, enabling a smooth transition to the new production facility. With engineering well underway, construction activities at the new site are due to start soon. The new facility will enable the further growth and efficient production of Quinvaxem® and Hepavax-Gene®. No further details were provided.
“We are pleased that we were able to settle all litigation around our production facility amicably, on terms beneficiary to all parties. Production of Quinvaxem® at our existing site in Shingal has already doubled compared to last year, and the new production facility will support the expected growth of our flagship products in the years to come.” said Cees de Jong, Chief Operating Officer of Crucell.
Crucell N.V. (Euronext, NASDAQ: CRXL; Swiss Exchange: CRX) is a global biotechnology company focused on research, development, production and marketing of vaccines, proteins and antibodies that prevent and treat primarily infectious diseases. Its vaccines are sold in public and private markets worldwide. Crucell’s core portfolio includes a vaccine against hepatitis B, a fully-liquid vaccine against five important childhood diseases and a virosome-adjuvanted vaccine against influenza. Crucell also markets travel vaccines, such as the only oral anti-typhoid vaccine, an oral cholera vaccine and the only aluminum-free hepatitis A vaccine on the market. The Company has a broad development pipeline, with several product candidates based on its unique PER.C6® production technology. The Company licenses its PER.C6® technology and other technologies to the biopharmaceutical industry. Important partners and licensees include DSM Biologics, sanofi-aventis, Novartis, Wyeth and Merck & Co. Crucell is headquartered in Leiden, the Netherlands, with subsidiaries in Switzerland, Spain, Portugal, Italy, Sweden, Korea and the US. The Company employs over a 1000 people. For more information, please visit www.crucell.com.
This press release contains forward-looking statements that involve inherent risks and uncertainties. We have identified certain important factors that may cause actual results to differ materially from those contained in such forward-looking statements. For information relating to these factors please refer to our Form 20-F, as filed with the U.S. Securities and Exchange Commission on May 7, 2008, and the section entitled “Risk Factors”. The Company prepares its financial statements under International Financial Reporting Standards (IFRS).
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