The new contract extends through December 31, 2016, and replaces the existing supply contract between GE and AMRI that has been in effect since 2005. AMRI will supply ABA, an intermediate material used in diagnostic imaging agents. This substantial contract commitment positions AMRI as a strategic supplier to GE Healthcare. Production will continue at AMRI's large scale manufacturing subsidiary located in Rensselaer, N.Y.
"We are pleased to once again extend our long-term relationship with GE Healthcare," said Thomas E. D'Ambra, Ph.D., chairman, CEO and president of AMRI. "The renewal of this relationship underscores the confidence that premier global pharmaceutical and health care companies have in AMRI's ability to meet their critical product needs.”
D'Ambra continued, "The ABA product relationship with GE Healthcare has been an important one for AMRI since acquisition of the Rensselaer plant in 2003 and at this time is our largest commercial supply arrangement. The extension of this key, long term agreement provides a consistent and high quality revenue source for this business unit through 2016."