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Romark Laboratories To Establish Pharmaceutical Manufacturing And Commercial Operations In Puerto Rico

Romark Laboratories To Establish Pharmaceutical Manufacturing And Commercial Operations In Puerto Rico

TAMPA, Fla. – December 5, 2014 – Romark announced today that it plans to establish pharmaceutical operations in Puerto Rico. Initially, the focus will be on establishing global commercial operations and a new state-of-the-art pharmaceutical manufacturing facility in Manatí.

"With our plans for establishing operations in Puerto Rico, we continue to build infrastructure to support the growth and development of our business," said Marc Ayers, President and Chief Executive Officer of Romark. "We have been impressed with the opportunity Puerto Rico has to offer to pharmaceutical companies that are expanding in the United States and foreign markets."

The announcement was made jointly with the Puerto Rico Industrial Development Company (PRIDCO) and Puerto Rico Governor Alejandro García Padilla at the site in Manatí.

The manufacturing facility is expected to involve an investment of approximately $110 million and would be completed by the end of 2016. The new facility would manufacture the Company’s global requirements for its existing products and for NT-300, its late-stage drug candidate for treatment of influenza.

Romark's Puerto Rico operations are expected to employ approximately 200 people. The Company also envisions incorporating research and development into its Puerto Rico operations.

Romark and PRIDCO are continuing to work to complete necessary agreements to provide infrastructure and job creation incentives under the Economic Development of Puerto Rico Act.

About Romark Laboratories

Romark Laboratories, L.C. is a vertically integrated biopharmaceutical company committed to the discovery and development of innovative small molecule drugs for treating infectious diseases and cancers. The Company markets Alinia® (nitazoxanide) tablets, 500 mg in the United States through a specialty sales force focused on gastroenterologists and primary care physicians.

Romark is developing a class of small molecule drugs called thiazolides. The Company's product, NT-300 (nitazoxanide), is presently undergoing Phase 3 clinical development on a global basis for treatment of acute uncomplicated influenza. The NT-300 development program is being conducted under contract HHSO100201300004C with the U.S. Department of Health and Human Services. Other new drugs from the Company's platform technology are proposed for treatment of viral diseases and cancers.