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NEWS RELEASE
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 long-term, 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: 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. "The relationship recognizes IDT's expertise in the manufacture of drug products requiring containment. It also reflects IDT's high level of compliance with the good manufacturing practice required by the Food and Drug Administration in the US." Company Background Institute of Drug Technology Australia Limited (IDT: www.idtaus.com.au) is a leading developer and manufacturer of active pharmaceutical ingredients and finished products for local and international markets. The company also provides a comprehensive range of consultancy, research and development, and analytical services to the pharmaceutical and biotechnology sectors. Established in 1975, IDT is an Australian-owned public company, listed on the Australian Stock Exchange and employing over 140 highly qualified scientific and support staff. The company has extensive modern manufacturing facilities and laboratories in Melbourne and is licensed by the Australian Therapeutic Goods Administration (TGA) and the United States Food and Drug Administration (FDA) for the production of pharmaceutical products. The company has become especially well known internationally for its dedicated facilities for the development and production of anticancer drugs. In addition, the company offers early stage clinical trial services from its base at the Royal Adelaide Hospital through its CMAX division (www.cmax.com.au).
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