TKT Assessing Impact of Fire at Manufacturing Facility
April 27 2005 - 7:23PM
PR Newswire (US)
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
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