Transkaryotic Therapies (NASDAQ:TKTX)
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TKT Assessing Impact of Fire at Manufacturing Facility
CAMBRIDGE, Mass., April 27 /PRNewswire-FirstCall/ -- Transkaryotic Therapies,
Inc. (NASDAQ:TKTX) announced that a fire occurred yesterday afternoon at its
Cambridge, Massachusetts manufacturing facility. All employees were safely
evacuated from the building and no injuries occurred. The fire originated on
the roof of the facility and was confined largely to the roof. The damage
elsewhere was limited to water and smoke damage.
The company manufactures bulk drug substance of its protein products,
Replagal(TM) (agalsidase alfa), its enzyme replacement therapy for Fabry
disease, Iduronate-2-Sulfatase (I2S) for Hunter syndrome, and Gene-
Activated(R) glucocerebrosidase (GA-GCB) for Gaucher disease at this facility.
Based on existing inventory levels, the company does not expect any
interruption with commercial supply of Replagal and material for its clinical
trials in the near-term. No finished goods or drug substance inventories were
lost as a result of the fire, the cause of which is unknown at this time. The
company has temporarily suspended production at the facility. TKT expects to
complete its assessment of the fire's impact on the facility over the next
several days and implement a plan to resume manufacturing at the facility as
quickly as possible. The company plans to provide additional information on its
first quarter 2005 conference call, scheduled for May 5, 2005.
About TKT
Transkaryotic Therapies, Inc. is a biopharmaceutical company primarily focused
on researching, developing and commercializing treatments for rare diseases
caused by protein deficiencies. Within this focus, the company markets
Replagal(TM), an enzyme replacement therapy for Fabry disease, and is
developing treatments for Hunter syndrome and Gaucher disease. In addition to
its focus on rare diseases, TKT intends to commercialize Dynepo(TM), its Gene-
Activated(R) erythropoietin product for anemia related to kidney disease, in
the European Union. TKT was founded in 1988 and is headquartered in Cambridge,
Massachusetts, with additional operations in Europe, Canada and South America.
Additional information about TKT is available on the company's website at
http://www.tktx.com/.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements regarding the proposed
transaction between Shire and TKT, and the manufacturing of Replagal, I2S and
GA-GCB, as well as statements about future expectations, beliefs, goals, plans
or prospects, including statements containing the words "believes,"
"anticipates," "plans," "expects," "estimates," "intends," "should," "could,"
"will," "may," and similar expressions. There are a number of important
factors that could cause actual results to differ materially from those
indicated by such forward-looking statements, including: whether the fire will
affect its ability to supply product for commercial use or clinical trials; the
extent of damage to the facility; timing of when the facility will be
operational; and other factors set forth under the caption "Certain Factors
That May Affect Future Results" in the company's Annual Report on Form 10-K for
the year ended December 31, 2004, which is on file with the SEC and which
factors are incorporated herein by reference. While the company may elect to
update forward-looking statements at some point in the future, the company
specifically disclaims any obligation to do so, even if its expectations
change.
Gene-Activated(R) is a registered trademark and Replagal(TM) is a trademark of
Transkaryotic Therapies, Inc. Dynepo(TM) is a trademark of Sanofi-Aventis.
For More Information Contact
Justine E. Koenigsberg
Senior Director, Corporate Communications
(617) 349-0271
Daniella M. Lutz
Manager, Corporate Communications
(617) 349-0205
http://www.newscom.com/cgi-bin/prnh/19990913/TKTLOGO
http://photoarchive.ap.org/
DATASOURCE: Transkaryotic Therapies, Inc.
CONTACT: Justine E. Koenigsberg, Senior Director, Corporate
Communications, +1-617- 349-0271, or Daniella M. Lutz, Manager, Corporate
Communications, +1-617-349-0205, both of TKT
Web site: http://www.tktx.com/
Company News On-Call: http://www.prnewswire.com/comp/120657.html