DAYTON, Ohio, Sept. 27, 2007 (PRIME NEWSWIRE) -- Eurand, N.V. (Nasdaq:EURX) announced today that Eurand, Inc. will host a formal ceremony to mark the groundbreaking of its facility expansion in Vandalia, Ohio (near Dayton). Ohio Governor Ted Strickland will join Eurand, one of the leading employers in the county, to celebrate the Company's $5.5 million project to expand its laboratory and office facility.
The groundbreaking ceremony will begin at 10:00 a.m. today, September 27, 2007. Other area dignitaries scheduled to attend include:
* The Honorable Arlene Setzer, Ohio House of Representatives
* Dan Foley, Montgomery County Commissioner
* William Loy, Mayor of Vandalia
"The expansion of our Vandalia facility will allow us to continue to provide innovative products to our current customer base while broadening our U.S. presence," said Gearoid Faherty, Chief Executive Officer of Eurand. "This project underscores our commitment to research and development as a critical component of our future success."
"Ohio is committed to investing in the research, facilities and workforce that will make our state a leader in the bioscience industry," Strickland said. "We're proud to partner with Eurand in the company's continued investment in Montgomery County."
The construction project includes the renovation of approximately 13,000-square-feet of the existing building and a 13,000-square-foot addition. The project is expected to be completed in 2009.
About Eurand
Eurand is a specialty pharmaceutical company that develops enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug formulation technologies. Eurand has had four products approved by the FDA since 2001 and has a pipeline of product candidates in development for itself and its collaboration partners. Eurand has completed two phase III clinical trials on its lead product candidate, Zentase, for the treatment of Exocrine Pancreatic Insufficiency and filed a rolling NDA for this product which the company anticipates to complete by the end of 2007. Eurand's technology platforms include bioavailability enhancement of poorly soluble drugs, customized release, taste-making/fast-dissolving formulations and drug conjugation.
Eurand is a global company with facilities in the USA and Europe. For more information, visit Eurand's website at www.eurand.com.
This release, and oral statements made with respect to information contained in this release, constitutes forward-looking statements. Such forward-looking statements include those which express plan, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact including, but not limited to our plans for our NDA filing, enrollment and future plans for our clinical trials, progress of and reports of results from clinical studies, clinical development plans and product development activities. The words "potentially", "could", "calls for" and similar expressions also identify forward-looking statements. These statements are based upon management's current expectations and are subject to risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. Factors that could affect actual results include risks associated with the possibility that the FDA refuses to approve our NDA; the outcome of any discussions with the FDA; and unexpected delays in preparation of materials for submission to the FDA as a part of our NDA filing. Forward-looking statements contained in this press release are made as of this date, and we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Actual events could differ materially from those anticipated in the forward-looking statements.