BEDFORD, Mass.--(BUSINESS WIRE)--Anika Therapeutics, Inc. (NASDAQ: ANIK), a global, integrated orthopedics medicines company specializing in therapeutics based on its proprietary hyaluronic acid ("HA") technology, is hosting a celebration today at its Bedford, Massachusetts headquarters to commemorate its 25th anniversary and inaugurate its newly-expanded and consolidated global manufacturing facility. Previously, Anika’s manufacturing operations were split between its U.S. headquarters and a contract manufacturer in Abano Terme, Italy, but the company initiated plans to onshore manufacturing in the U.S. to maintain better control of supply chain, accelerate product development, and increase operating efficiency. By year end, our 134,000 square foot corporate headquarters and the newly expanded state-of-the-art facility will manufacture and package the totality of the company’s diverse portfolio of more than 20 products for distribution into more than 55 markets across the globe.
“We are proud and excited to consolidate our entire manufacturing operation in the United States on the 25th anniversary of our inception,” said Charles H. Sherwood, Ph.D., President and Chief Executive Officer, Anika Therapeutics. “The new facility not only helps Anika more deftly manage global supply and inventory, but it also creates opportunities for a highly-skilled workforce, and brings sophisticated scientific capabilities and cutting-edge technologies back to the U.S. and to the state of Massachusetts, which has been a steadfast and supportive partner throughout our 25-year journey.”
Anika develops, manufactures and commercializes a diverse range of therapeutic products, the large majority of which are based on its proprietary formulation of non-animal-derived HA, a naturally occurring substance in the human body with lubricating, healing, restorative and regenerative properties. In the Bedford-based manufacturing facility, Anika utilizes proprietary processes to produce its suite of unique gel-based and textile-form products from highly-concentrated and ultra-pure HA. Anika’s Bedford-based manufacturing facility and corporate headquarters employs approximately 100 operations, engineering, clinical, assembly, warehouse, marketing, general and administrative professionals, and it is the only facility in the U.S. with the sophisticated capability to produce HA products in solid textile forms.
“We welcome Anika Therapeutics’ decision to bring its healthcare manufacturing sector back to the U.S. and to the Commonwealth as they celebrate 25 years supporting our local economy,” said Governor Charlie Baker. “Our strong and talented workforce is helping businesses large and small thrive, supporting economic growth and new jobs across Massachusetts.”
“For 25 years Anika Therapeutics has provided value and stability to not just the life sciences industry, but the Commonwealth as a whole. With this upcoming expansion, the anticipated and sustained impact on the local and state economy cannot be overstated,” Travis McCready, President & CEO of the Massachusetts Life Sciences Center said. “On behalf of the Massachusetts Life Sciences Center, I congratulate Anika on these first 25 years, and look forward to their continued success for the next quarter century and beyond, here in Massachusetts.”
“Congratulations to Anika and its leadership on celebrating 25 years of success and growth,” said Robert K. Coughlin, CEO and President of MassBio. “Their longevity and commitment to innovation is a shining example for other Massachusetts companies who are looking to follow their lead.”
About Anika Therapeutics, Inc.
Anika Therapeutics, Inc. (NASDAQ: ANIK) is a global, integrated orthopedic medicines company based in Bedford, Massachusetts. Anika is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along the continuum of care, from palliative pain management to regenerative cartilage repair. The Company has over two decades of global expertise developing, manufacturing, and commercializing more than 20 products based on its proprietary hyaluronic acid (HA) technology. Anika's orthopedic medicine portfolio includes ORTHOVISC®, MONOVISC®, and CINGAL®, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST®, a solid HA-based scaffold to aid cartilage repair and regeneration. For more information about Anika, please visit www.anikatherapeutics.com.
The statements made in the last sentence of the first paragraph of this press release, which are not statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, those relating to the Company's expectations regarding 2017 production capabilities. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks, uncertainties, and other factors. The Company's actual results could differ materially from any anticipated future results, performance, or achievements described in the forward-looking statements as a result of a number of factors including, but not limited to, (i) the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all; (ii) the Company's ability to obtain pre-clinical or clinical data to support domestic and international pre-market approval applications, 510(k) applications, or new drug applications, or to timely file and receive FDA or other regulatory approvals or clearances of its products; (iii) that such approvals will not be obtained in a timely manner or without the need for additional clinical trials, other testing or regulatory submissions, as applicable; (iv) the Company's research and product development efforts and their relative success, including whether we have any meaningful sales of any new products resulting from such efforts; (v) the cost effectiveness and efficiency of the Company's clinical studies, manufacturing operations, and production planning; (vi) the strength of the economies in which the Company operates or will be operating, as well as the political stability of any of those geographic areas; (vii) future determinations by the Company to allocate resources to products and in directions not presently contemplated; (viii) the Company's ability to successfully commercialize its products, in the U.S. and abroad; (ix) the Company's ability to provide an adequate and timely supply of its products to its customers; and (x) the Company's ability to achieve its growth targets. Additional factors and risks are described in the Company's periodic reports filed with the Securities and Exchange Commission, and they are available on the SEC's website at www.sec.gov. Forward-looking statements are made based on information available to the Company on the date of this press release, and the Company assumes no obligation to update the information contained in this press release.