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Senator Hillary Clinton Visits Akrimax Pharmaceutical Plant in Rouses Point, NY

Wednesday, August 6, 2008 General News J E 4
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ROUSES POINT, N.Y., Aug. 5 U.S. Sen. Hillary RodhamClinton today visited the Akrimax pharmaceutical plant and paid tribute toAkrimax and the employees for their dedication and loyalty. The plant, whichhad been slated for closure, was acquired by Akrimax from WyethPharmaceuticals in January 2008.

Senator Clinton met with company founders Joseph Krivulka and LeonardMazur, toured the facility, and then spoke to an overflow crowd of more than300 citizens under a tent at the Rouses Point facility.

"I want to thank Joe and Leonard for really understanding the potential ofthis facility," said Senator Clinton. "In 2005 when Wyeth announced they wouldbe closing operation at the plant it could have been a devastating blow to theregion, but the people of Rouses Point saw it as an opportunity and a call toaction. With the assistance of Garry Douglas and the Plattsburgh-North CountryChamber of Commerce we were able to show Akrimax that there was a top-notchoperation and dedicated workforce waiting in Rouses Point for the rightcompany to move in. I am proud to have had the opportunity to help make thisconnection, and I am glad that our hard work has resulted in a solution thatbenefits Akrimax and the local community. It was the people and the quality ofthe work ethic that made this all possible."

Senator Clinton was instrumental in facilitating the effort by Akrimax topurchase the facility last year, a move that saved the jobs of more than 750North Country citizens. The facility is the largest private employer in theNorth Country.

Senator Clinton commended Akrimax for recognizing the emergingopportunities in the areas of biologics, biosimilars and biochemicals. Shealso praised the community for its determination and dedication, despiteperiods of past uncertainty.

Krivulka paid tribute to Senator Clinton for her support of the plant andthe community.

"Senator Clinton was our first call when we considered acquiring thisNorth Country facility," he said. "We are deeply grateful for her strongsupport and look forward to an ongoing relationship as we fulfill the legacyof manufacturing excellence at this facility."

The move averted the closure of the pharmaceutical manufacturing andpackaging plant, which has been a fixture in Rouses Point for decades and thelargest private employer in the North Country since the 1980s. It drawsemployees from Clinton, Franklin and Essex counties in New York and fromseveral northern Vermont towns.

Akrimax is a specialty branded pharmaceutical company led by a coremanagement team of experienced pharmaceutical executives with expertise indevelopment, manufacturing, distribution, marketing and sales ofpharmaceutical products.

Krivulka and Mazur have brought an experienced pharmaceutical team back tothe North Country. In 1993, Krivulka acquired Bertek Inc. on behalf of MylanLaboratories in St. Albans, Vermont, and as its president transformed it intoa leading branded pharmaceutical entity. He served in that capacity untilmid-1997.

Wyeth and Akrimax have a cooperative relationship during a currenttransition period that concludes at the end of 2009. During this transitionperiod, Akrimax will lease the facility back to Wyeth, so that Wyeth cancontinue manufacturing its products, while Akrimax begins integrating its ownproducts into the facility. Akrimax intends to bring additional business tothe facility through contract manufacturing agreements with third parties.

ABOUT AKRIMAX

Akrimax Pharmaceuticals, LLC is a privately-held, fully-integratedemerging specialty pharmaceutical company that will concentrate its brandedfocus on products for the treatment of metabolic syndrome and other diseaseswith unsurpassed quality in the development, production, manufacturing,distribution, and commercialization of a full range of top-qualitypharmaceutical products. Akrimax
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