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Axellia Invests in Phoenix Global Supply Group to Provide Finished Dosage Pharmaceutical OTC Products in the US and Canada

Wednesday, May 19, 2010 General News J E 4
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COPENHAGEN, Denmark, May 18 Axellia Pharmaceuticals ApS ("Axellia"), an international pharmaceutical company, announces that it has acquired a majority interest in Phoenix Global Supply Group, Inc. ("Phoenix"), based in White Plains, New York, to supply finished dosage over-the-counter pharmaceutical products in the United States and Canada.

Axellia is a leading provider of several life saving anti-infective drugs, with a growing presence in injectable finished products. Axellia's Chief Executive Officer, Carl-Ake Carlsson, commented, "Our investment in Phoenix is a significant expansion of Axellia's presence in the international pharmaceutical market. An important part of our strategy is to expand our offering to include finished products in targeted dosage forms and geographic markets, while continuing to develop our core API (active pharmaceutical ingredients) business."

Phoenix's initial product launches in North America are expected to include private label finished goods using Axellia's popular antibiotic APIs, such as bacitracin and polymyxin B sulfate, two of the major ingredients found in topical anti-infective wound healing first aid products. "The Phoenix team is delighted to welcome Axellia as its majority owner. While there are many other manufacturers of over-the-counter antibiotic products, we believe that the U.S. and Canadian markets for these products continue to be attractive and provide a significant opportunity for Phoenix," said Walter Jenkins, Phoenix's Chief Executive Officer.

Axellia is a leading producer and marketer of specialty anti-infective APIs and finished products. We provide high quality products and end-to-end solutions to our customers in the pharmaceutical industry. Axellia has production sites in Oslo (Norway), Copenhagen (Denmark), Budapest (Hungary) and Taizhou (P.R. China).

Contact Axellia: Carl-Ake Carlsson (+47 90 69 73 78) Phoenix: Walter Jenkins (+1 914 288 8480)

SOURCE Axellia Pharmaceuticals ApS
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