Sfbc (NASDAQ:SFCC)
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SFBC International, Inc. (NASDAQ:SFCC), a provider of
drug development services to branded pharmaceutical, biotechnology,
generic drug and medical device companies, today announced that at a
hearing before the Miami-Dade County (the "County") Unsafe Structures
Board (the "Board") on January 18, 2006, the Board has accepted the
Agreed Recommendation submitted by SFBC and a Building Department
Official. The Board announced that it will issue a formal written
decision (the "Decision") with regard to SFBC's Miami, Florida
facility located on Biscayne Boulevard (the "Facility"). As a result
of the Decision, SFBC will continue to operate this Facility and will
make improvements to the Facility following the issuance of the
building permit.
Prior to yesterday's hearing, a building application plan was
submitted to the County by SFBC to permit structural improvements to
the Facility. The building application plan was prepared by SFBC's
general contractor, professional architects and engineers, and
planning expert.
SFBC expects the Decision will be issued by January 25, 2006. Upon
issuance of this Decision, SFBC will have 90 days to obtain a building
permit. During the 90-day period, SFBC expects that the County will
issue comments to the submitted plans and SFBC will be required to
make adjustments to the submitted plans based upon these comments.
Assuming the permit is issued, SFBC will have 180 days from issuance
in which to complete all necessary improvements to the Facility.
The Company is pleased with the outcome of this hearing and looks
forward to working closely with County officials.
About SFBC International, Inc.
SFBC International, Inc. provides early and late stage clinical
drug development services to branded pharmaceutical, biotechnology,
generic drug and medical device companies around the world. SFBC has
more than 30 offices located in North America, Europe (including
Central and Eastern Europe), South America, Asia, and Australia. In
early clinical development services, SFBC specializes primarily in the
areas of Phase I and early Phase II clinical trials and bioanalytical
laboratory services, including early clinical pharmacology. SFBC also
provides late stage clinical development services globally that focus
on Phase II through IV clinical trials. SFBC also offers a range of
complementary services, including data management and biostatistics,
central laboratory services, medical and scientific affairs,
regulatory affairs and submissions, and clinical IT solutions.
Additional information is available on SFBC's website at
http://www.sfbci.com.
Forward-Looking Statements
The statements made in this press release relating to issuance of
the building permits and completion of the necessary renovations are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act"). Additionally
words such as "seek," "intend," "believe," "plan," "estimate,"
"expect," "anticipate" and other similar expressions are
forward-looking statements within the meaning of the Act. Some or all
of the results anticipated by these forward-looking statements may not
occur. Factors that could cause or contribute to such differences
include, but are not limited to, the inherent uncertainty of how the
County officials will react in reviewing the application and plans
submitted by SFBC and the ability of outside contractors and
professionals retained by SFBC to make the necessary improvements in
compliance with the permits and all applicable laws.