Business Services Industry
E-Z-EM Inc. Expands Manufacturing Capacity for Its RSDL™ Skin Decontaminants
Business Wire, Sept 17, 2007
LAKE SUCCESS, N.Y. -- E-Z-EM Inc. (Nasdaq:EZEM) announced today that it has completed a multi-million dollar expansion of its Canadian manufacturing facility used for the production of RSDL(TM) decontamination lotion. Located at E-Z-EM's current Good Manufacturing Practices (cGMP) pharmaceutical facility in Montreal, Canada, the expansion provides a significant increase in capacity.
"This expansion provides us with the ability to quickly ramp production of RSDL in support of any surge requirements that may be initiated by the Department of Defense (DoD)," said Timothy G. Henry, VP and General Manager of E-Z-EM's Healthcare Decontamination business. "In the event of a serious incident, we can ensure users of RSDL that we can meet unanticipated demand."
In May, the U.S. DoD placed its first procurement order for RSDL worth approximately $5.0 million, followed shortly thereafter by an additional $8.0 million order for RSDL. The Company believes these orders are part of an ongoing procurement program designed to establish RSDL as the preferred personal skin decontaminant for the U.S. armed forces. RSDL received Milestone C approval from the Joint Program Executive Office for Chemical Biological Defense (JPEO-CBD) in March 2007, a decision that cleared the way for procurement by the individual service branches of the DoD. In addition to the US Military, RSDL has been adopted by several military services in countries around the world, including: Canada, The Netherlands, Belgium, Ireland, Sweden, Slovenia, New Zealand, and Australia.
RSDL is a patented, broad spectrum skin decontamination product intended to remove or neutralize chemical warfare (CW) agents or T2 toxins from the skin. RSDL was originally developed and patented by Defense Research and Development Canada, an agency within the Canadian Department of National Defense, for use by the Canadian Forces. RSDL is produced by E-Z-EM under a License with Defense Research and Development Canada (DRDC).
About E-Z-EM, Inc.
E-Z-EM, a publicly traded healthcare company founded in 1962, is one of the most recognized brands in diagnostic imaging of the GI tract. From the first barium contrast systems introduced over 40 years ago, to today's advanced products for CT imaging and virtual colonoscopy, E-Z-EM has continually developed innovative imaging and diagnostic solutions for physicians treating GI diseases. As a respected contract manufacturer of specialized liquid products, E-Z-EM has been the exclusive global manufacturer of RSDL since 1996. In April of 2005, E-Z-EM completed the acquisition of all assets associated with RSDL and now is the product's exclusive worldwide marketer for military and first responder organizations.
The statements made in this document contain certain forward-looking statements. Words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions, are intended to identify such forward-looking statements. The forward-looking statements contained in this release may involve numerous risks and uncertainties, known and unknown, beyond the Company's control. Such risks and uncertainties include: the ability of the Company to develop its products, the impact and future sales, if any, resulting from the expansion of manufacturing capacity for RSDL, the impact on future sales of SAFETY Act designation and certification for RSDL, future orders of RSDL by first responder organizations, general military and first-responder market acceptance and sales of RSDL, future actions by the FDA or other regulatory agencies, overall economic conditions, general market conditions, price increases of raw materials and components, foreign currency exchange rate fluctuations as well as the risk factors listed from time to time in the SEC filings of E-Z-EM, Inc., including but not limited to its Annual Report on its Form 10-K for the fiscal year ended June 2, 2007. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements, and investors are cautioned not to place undue reliance on the forward-looking statements included in this release.
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