IGI Laboratories, Inc. (NYSE Amex: IG), a New Jersey based formulation and manufacturing company, announced today that it has entered into a Turnkey Manufacturing Services agreement with The NeoStrata Company, headquartered in Princeton, NJ. NeoStrata is an internationally-recognized leader in skin care products. Its products are marketed worldwide through consumer outlets, physician’s offices and spas. Under the terms of the agreement, IGI will be responsible for supplying NeoStrata fully-packaged, ready-for-sale product.
IGI President and CEO Charlie Moore commented “We are delighted with this opportunity to enhance our position as a supplier to NeoStrata. We look forward to a long and fruitful relationship.”
The collaboration of NeoStrata Company Inc. with IGI Laboratories, Inc. represents NeoStrata’s commitment to partner with strong, reputable contract manufacturing and development organizations that contribute to the expansion of the product development pipeline. “We have tremendous respect for the skilled team of employees at IGI Laboratories, Inc. and believe this partnership creates beneficial synergies for both organizations,” said Hany Salama, Vice President of Operations. “Our corporate cultures both share the commitment to scientific expertise, superior client relations, dedication to employees, and building value for our shareholders,” stated Salama.
About IGI Laboratories, Inc.IGI Laboratories is focused in the development and commercialization of products for the dermatology market. IGI Laboratories, Inc. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release that are not historical facts and statements identified by words such as " will," "possible," "one time," "provides an opportunity," "continue" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in IGI Laboratories, Inc.’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.’s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.