18.09.2007 – 11:24

Novasep

Groupe Novasep to Acquire PharmaChem Technologies (Grand Bahama) Ltd

Pompey, France (ots/PRNewswire)

- Combined Company Will Become one of the Leading Suppliers for
the Life Science Industries

Groupe Novasep announced today that the company is finalizing
discussions to acquire Bahamas-based PharmaChem Technologies (Grand
Bahama) Ltd for an undisclosed amount.

The combination of Novasep and PharmaChem responds to their shared
vision of becoming the leading global supplier for the Life Sciences
industries, built upon unique synergies between these
technology-driven companies.

Customers worldwide will now benefit from Novasep's top-notch R&D
capabilities and innovative technologies along with PharmaChem's
ample manufacturing capacity to produce smart APIs and intermediates.

"This acquisition reinforces our position of leadership as a
global supplier of active molecules for the Life Sciences, produced
in economical conditions as to comply with health, environment, and
quality standards of the highest levels" commented Roger-Marc Nicoud,
President of Group Novasep, and added "Groupe Novasep intends to
continue developing PharmaChem's activities and to build synergies
with our Synthesis and Process businesses".

Pietro Stefanutti, founder and President of PharmaChem will
assume, in addition to his current responsibilities, the role of
Chairman of the Board of the combined company while Mr. Nicoud will
remain as President and Chief Executive Officer of Groupe Novasep.
Mr. Stefanutti stated "We are very pleased to be joining Novasep in
their quest to become the first-choice partner of the Life Sciences
industries. Our commitment is to contribute and improve the health of
the world's population".

PharmaChem's facility, based in Freeport, Bahamas is a cGMP
compliant and FDA inspected plant with strong growth potential. This
modern facility currently manufactures the leading antiretroviral API
for a major Nasdaq-100 company committed to the treatment of HIV/AIDS
worldwide.

Once the transaction is complete both companies will continue
to operate under their current entity names and management structure.

About Groupe Novasep

With its headquarters near Nancy (in Eastern France), is a leading
partner for the pharmaceutical, food, cosmetics, agrochemicals, and
specialty chemicals industries through its two business segments -
Novasep Process and Novasep Synthesis. Both strategic businesses are
complementary organizations with skills designed to provide
technically optimized and economical solutions for the life-science
sector and related industries.

About PharmaChem Technologies Limited

PharmaChem Technologies (Grand Bahama) Ltd. is a privately held
Bahamian company producing bulk Active Pharmaceutical Ingredients and
Registered Intermediates. These products are used everyday to save
lives in the whole world and make it a better place to live.
PharmaChem's plant which was initially established in 1967 by Syntex
Pharmaceuticals and acquired by the current owners in September 2003
is located on a 62 acre facility, of which 22 acres are currently
developed, and has benefited over the years from several major
upgrades making it a modern facility with an excellent cGMP history,
with room for further expansion. The Freeport location gives
PharmaChem Technologies a geographical position to easily supply its
existing customers in the USA, and with Freeport's own deep water
transhipment container port and international airport, the ability to
supply customers globally.

Press contact
    Groupe Novasep
    Mr Jean-Marc Le Rudulier
    Marketing & Communication Director
    Groupe Novasep
    82 Bd de la Moselle -B.P. 50
    54340 Pompey - France
    Tel : +33-(0)3-83-49-71-46
    Mob : +33-(0)6-87-69-06-57
     jean-marc.le.rudulier@novasep.com
    Press contact
    PharmaChem Technologies
    Mr Randy Thompson
    PharmaChem
    West Sunrise Highway
    Freeport, Grand Bahama Island
    The Bahamas
    Tel : +1-242-688-2511
     rthompson@pharmachemtech.com

Contact:

Press contact: Groupe Novasep: Mr Jean-Marc Le Rudulier, Marketing &
Communication Director, Groupe Novasep, 82 Bd de la Moselle -B.P. 50,
54340 Pompey - France, Tel : +33-(0)3-83-49-71-46, Mob :
+33-(0)6-87-69-06-57, jean-marc.le.rudulier@novasep.com; Press
contact: PharmaChem Technologies: Mr Randy Thompson, PharmaChem, West
Sunrise Highway, Freeport, Grand Bahama Island, The Bahamas, Tel :
+1-242-688-2511, rthompson@pharmachemtech.com