Healthcare Industry News: Aloxi
News Release - July 11, 2007
MGI PHARMA to Expand Presence in Lexington, MA
Additional Space Will Enable Consolidation of Clinical and Product Development Activities into Single FacilityMINNEAPOLIS--(HSMN NewsFeed)--MGI PHARMA, INC. (Nasdaq:MOGN ), a biopharmaceutical company focused in oncology and acute care, today announced that it has signed an agreement to substantially expand its office and laboratory space in Lexington, Massachusetts. The new facility will provide nearly double the space that MGI PHARMA currently occupies in Lexington and will enable it to consolidate its clinical and product development activities into a single location. MGI PHARMA plans to relocate to the new facility from its current location during the second half of 2007.
Mary Lynne Hedley, Executive Vice President and Chief Scientific Officer said "We are delighted to have identified a newly renovated building that is located near our existing facility and can be transitioned into quickly. This will ensure that we maintain our focus on execution of the development plans for our diverse and exciting pipeline of development candidates."
About MGI PHARMA
MGI PHARMA, INC. is a biopharmaceutical company focused in oncology and acute care that acquires, researches, develops and commercializes proprietary products that address the unmet needs of patients. MGI PHARMA markets Aloxi® (palonosetron hydrochloride) Injection, Dacogen® (decitabine) for Injection and Gliadel® Wafer (polifeprosan 20 with carmustine implant) in the United States. MGI PHARMA directly markets its products in the U.S. and collaborates with partners to reach international markets. For more information, please visit www.mgipharma.com.
This news release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as "believes," "expects," "anticipates," "intends," "will," "may," "should," or similar expressions. These forward-looking statements are not guarantees of MGI PHARMA's future performance and involve a number of risks and uncertainties that may cause actual results to differ materially from the results discussed in these statements. Factors that might cause MGI PHARMA's results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the ability of MGI PHARMA to continue to increase sales of its marketed products, the ability to successfully commercialize Saforis(TM) / the ability for MGI PHARMA to respond to the FDA's approvable letter, the successful completion of clinical trials for the Company's other product candidates, and other risks and uncertainties detailed from time to time in MGI PHARMA's filings with the Securities and Exchange Commission including its most recently filed Form 10-K and Form 10-Q. MGI PHARMA undertakes no duty to update any of these forward-looking statements.
Source: MGI PHARMA
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