MONTREAL, CANADA--(Marketwired - Nov. 13, 2013) - Theratechnologies Inc. (TSX:TH) today announced that it has been informed by Jubilant HollisterStier (Jubilant), the third-party contract manufacturer for tesamorelin, that a strike has been initiated by employees working at its manufacturing site in Montreal, Canada.
Despite this labour action, the Company was informed by Jubilant that the shipment of tesamorelin was still expected to resume by mid-December.
Theratechnologies is currently working with Jubilant management to minimize the consequences of this event on the future manufacturing and shipment of tesamorelin and to minimize inconvenience to patients.
Theratechnologies (TSX: TH) is a biopharmaceutical company that specializes in innovative therapeutic peptide products, with an emphasis on growth-hormone releasing factor peptides. Further information about Theratechnologies is available on the Company's website at www.theratech.com, on SEDAR at www.sedar.com and on the SEC's website at www.sec.gov.
This press release contains certain statements that are considered "forward-looking information" within the meaning of applicable securities legislation, which statements may contain such words as "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions. This forward-looking information includes, but is not limited to, information regarding the timing on the shipment of lots of tesamorelin and the future manufacturing of tesamorelin.
Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Theratechnologies' control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to, the fact that the strike at Jubilant will not last for a long period of time and that employees will return to work rapidly, that Jubilant management will be able to continue manufacturing tesamorelin and ship same according to the schedule agreed upon between the Company and Jubilant and that no drug shortage will occur as a result of the Jubilant's labour disruption.
Risks and uncertainties include, but are not limited to, that Jubilant will not be able to ship lots of tesamorelin by mid-December, that the manufacture and shipment of tesamorelin be suspended until the strike has been settled and that a drug shortage occurs as result of the labour disruption.
We refer potential investors to the "Risks Factors" section of our Annual Report on Form 20-F dated February 26, 2013 available at www.sedar.com, www.sec.gov and www.theratech.com. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking statements. Forward-looking statements reflect current expectations regarding future events and speak only as of the date of this press release and represent our expectations as of that date.
Theratechnologies undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable laws.