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Cambrex Revises Restructuring Plan

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Cambrex Corp. is discontinuing its acquisition program aimed at transforming the company into a specialty therapeutics enterprise, due to the increasing cost to acquire companies in this sector and the risk of achieving an appropriate return on investment. The company has decided to concentrate its resources on its Bioproducts segment and capitalize on its cell biology, molecular biology, rapid microbial testing and cell therapy manufacturing. The Human Health and Biopharma segments will “continue to be paid the resources necessary to maintain their market positions,” according to a company statement.

John R. Leone, president and chief executive officer will leave the company effective January 15, 2006. Mr. Leone joined the company in August 2004 for the purpose of leading the company’s entry into the specialty therapeutics market. James A. Mack, chairman of the Cambrex board of directors, will serve as acting president and chief executive officer.

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