Akrimax Pharmaceuticals has acquired Wyeth’s drug product manufacturing and packaging plant in Rouses Point, NY. In late 2005, Wyeth announced plans to phase out operations at the Rouses Point plant due to changes in product demand and restructuring of its manufacturing network. The plant is one of the largest private employers in the area, with nearly 800 manufacturing jobs.   
   
Wyeth and Akrimax will cooperate during a transition period that will end in 2009. During this time, Akrimax will lease the facility back to Wyeth, so that it can continue manufacturing its products, while Akrimax integrates its own products into the facility. Akrimax, an emerging branded pharmaceutical company with expertise in development, manufacturing, distribution, marketing and sales of pharmaceutical products, plans to bring additional business to the facility through contract manufacturing agreements with third parties.
       
“It is a thrill to be back in the North Country and with the fine people of the area,” said Joseph Krivulka, founder of Akrimax. “Together, we will seek to maintain this facility in its rightful place in the North Country economy.”
   
Akrimax plans to hire its staff from the Wyeth workforce at the site at the time of transfer in 2009. “Our plan is to develop, manufacture and distribute pharmaceutical products from our own product portfolio and other third-part contracts,” Mr. Krivulka said. “We will accomplish that with the special expertise and knowledge of the people at this terrific plant.”
       
David Champagne, managing director for Wyeth at Rouses Point, said, “Over the past two years, Wyeth’s goal was to actively identify a buyer for the site who would continue pharmaceutical manufacturing to maximize the facility’s resources and take advantage of the region’s strong workforce. We will partner closely with Akrimax on a transition plan that prepares their organization to take over operations of the site in late 2009.”
       
The sale does not include the Chemical Development pilot plant adjacent to the manufacturing site, where Wyeth plans to continue operations.