Cambrex expects market softening

Cambrex saw a small increase in sales in the third quarter. Steven Klosk, Cambrex President and ceo, said "the market for early stage clinical development projects is softening. This is especially true of emerging biotech companies and our large pharma customers in Europe." Klosk attributed this to cost containment programs and a continuous review of R&D pipeline by big pharma and smaller companies focusing on fewer projects.
Cambrex is nearing completion of its new mid-scale API manufacturing facility at its Swedish operation, which is expected to be on line in early 2009. The company has started production in a portion of its state of the art API finishing facility in Milan, Italy, with the remainder in the later stages of validation. The new high potency development center in Charles City, Iowa, is also now fully operational. Klosk said these facilities position the company well for future growth.
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