Healthcare Industry News: paclitaxel
News Release - May 3, 2007
Integrated BioPharma to Explore Divesting Its Biotechnology BusinessHILLSIDE, N.J., May 3, 2007 (Healthcare Sales & Marketing Network) -- Integrated BioPharma, Inc. (NasdaqGM:INBP ) today announced that it is reviewing strategic alternatives for its InB:Biotechnologies, Inc. subsidiary (``Biotech''). In a move to sharpen INBP's focus on its nutraceutical segment, the company's management is exploring the divestiture of Biotech through a spin-off, sale or other strategic transaction.
INBP expects shortly to engage one or more financial advisors to assist in its review of its alternatives. It anticipates that it could complete a disposition during the latter half of calendar year 2007. Upon separation, Biotech will be given a new corporate name distinct from its parent.
``The transactions we are considering would create two distinct businesses and allow them to take advantage of their respective growth opportunities,'' said E. Gerald Kay, Chairman and Chief Executive Officer of INBP. ``We believe the progress we have made in recent years will be accelerated by allowing Biotech to pursue independent strategies.''
About Integrated BioPharma, Inc. (INBP)
Integrated BioPharma is a unique grouping of companies presently serving the varied needs of the health care industry. Through its nutraceutical business, the Company creates, develops, manufactures and markets products worldwide. The Company's biotechnology business uses its patented plant-based technology to produce vaccines and therapeutic antibodies. Its pharmaceutical business operates a cGMP facility for the production and sale of paclitaxel and related drugs and provides technical services through its contract research organization. Further information is available at http://www.iBioPharma.com.
Statements included in this release related to Integrated BioPharma, Inc. may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential risk factors that could affect the company's financial results can be found in the company's Reports filed with the Securities and Exchange Commission.
Source: Integrated BioPharma
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