Pharmathen S.A announced the establishment of a new Research and Development Centre in Pallini, Athens. The new Research Centre will focus on developing Generic molecules and is expected to significantly reinforce Pharmathen's already excellent R&D capabilities. Pharmathen is one of the strongest generic developer in Europe and with the operation of the new facility the company's R&D activities will be further increased. The new state-of-the-art centre is equipped with the most technologically advanced instruments and laboratory machinery. Furthermore the new R&D centre will initially employ 70 scientists with advanced academic qualifications and long-term experience in research.

The establishment of the new research centre is the latest addition in a series of investments which have taken place over the last three years including the API R&D centre in Thessaloniki; the Innovative Formulation Laboratory also in Thessaloniki; the new manufacturing plant in Pikermi, Athens; and the new manufacturing plant in Sapes, Northern Greece, which is currently under construction and it is expected to be operational by the end of 2008. The new R&D centre will be in close cooperation with the other research units of Pharmathen.

Pharmathen is already a fully integrated company from API to finished formulations and the new facility will reinforce further its integration, allowing the company to provide a fully backwardly integrated quality service to its clients worldwide.

About Pharmathen Pharmaceuticals
Located in Athens, Greece, Pharmathen Pharmaceuticals is a private pharmaceutical company focused on developing and marketing of health care products, with a strong position in generics. Founded in 1969 by Dr. Nicolas Katsos, it is one of the fastest growing pharmaceutical companies in Greece.

With a long history of development and manufacturing of generic products, Pharmathen has emerged as one of the largest generic development companies in Europe with a development pipeline of ten generic molecules a year.

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