SOURCE: BASi (Bioanalytical Systems, Inc.)

February 13, 2006 17:24 ET

BASi Announces Re-Organization of Baltimore and UK Facilities for Significant Expense Reduction

WEST LAFAYETTE, IN -- (MARKET WIRE) -- February 13, 2006 -- Following a strategy developed in the last quarter of FY 2005, BASi (Bioanalytical Systems, Inc.) (NASDAQ: BASI) today announced it will reorganize its Baltimore Clinical Research Unit (CRU) and its UK operations to effect significant reduction of expenses and to improve operating results for these business units and the corporation. The re-organization will result in a total net reduction of 25 people over both business units. The Company expects to lower expenses by $1 million for the first full year of operation following the re-organization.

The Bioanalytical Laboratory associated with the CRU in Baltimore is being closed and the bioanalytical work associated with clinical research activity will now be conducted in BASi laboratories in West Lafayette, Indiana; McMinnville, Oregon; and Warwick, UK. These laboratories have similar or greater capacity to support Baltimore's sample analysis needs, higher critical mass in instrumentation, and more method development expertise to serve clients. The CRU will now be able to focus on adding new pharma and biotech clients and on complementing markets already served by other BASi locations.

BASi business in the UK has been re-focused on the Bioanalytical Laboratory there which serves UK and European customers as well as selected clients from the US. This change provides additional opportunities to US clients who are seeking UK or European registration for their pharmaceutical products and, at the same time, gives BASi additional capacity to distribute increasing demand for services in the most efficient fashion. The Biomarkers Laboratory will be moved from the UK to West Lafayette. BASi analytical instruments business in the UK continues with a smaller staff focused on sales and service of the Company's traditional instrument businesses, along with the Culex® Automated Pharmacology System, in both the UK and Europe.

Commenting on the re-organization, Dr. Edward Chait, BASi Executive VP and Chief Scientific Officer said, "Executing this re-organization is part of the plan to make our acquisitions in Baltimore and the UK more efficient and to improve significantly services to clients. These changes dovetail perfectly with our reorganized business development team. In short, our mandate for 2006 is to stay focused on the big opportunities."

About BASi

BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world's leading drug development companies and medical research organizations. The company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit www.bioanalytical.com for more about the Company.

Contact Information

  • FOR MORE INFORMATION:
    Edward M. Chait
    1.765.463.4527
    Email Contact