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Warnex Announces the Reorganization of its Analytical Services Subsidiary

Warnex Announces the Reorganization of its Analytical Services Subsidiary

Warnex Announces the Reorganization of its Analytical Services Subsidiary

Warnex Announces the Reorganization of its Analytical Services Subsidiary

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Warnex Inc. has announced that it is reorganizing the operations of its subsidiary, Warnex Analytical Services Inc. As part of this restructuring, Warnex will shut down the operations of its analytical laboratories located in Laval, Quebec, and consolidate all of its analytical services at its Neopharm Laboratories facility located in Blainville, Quebec.

"This reorganization reflects our strategy to continually improve efficiency and reduce costs in our operations. This change will provide us with estimated annualized cost savings of approximately $1 million," said Mark Busgang, President and CEO of Warnex.

Busgang continued, "We have already consolidated our validation and microbiology business to the Blainville laboratories in 2007 and 2008, respectively, and have been continuously working on improving efficiency and productivity in our analytical operations since the acquisition of the Blainville laboratory in August 2006. This reorganization will allow us to move all of the analytical operations under one roof thereby improving the efficiency of our operations as well as providing better service to our customers. This reorganization is expected to be completed by mid-September 2011."

Concurrently with this announcement, Warnex has filed the appropriate legal notices.

Warnex Analytical Services Inc. generated $10.5 million in revenue in 2010, of which 60% was generated by the operations in Blainville compared to 40% generated by the operations in Laval.

Warnex's facilities located in Blainville, Quebec, occupy 28,000 square feet and are fully cGMP compliant. Warnex's Bioanalytical Services and Medical Laboratories divisions, as well as its head office, will continue to operate at its Laval facilities.

Warnex Analytical Services provides a variety of quality control services, including chemistry, chromatography, microbiology, method development and validation, and stability studies, to the pharmaceutical, biotechnology, cosmetics, veterinary, nutraceutical and natural health product industries.

Our state-of-the-art facilities are in good standing on all matters of current Good Manufacturing Practices (cGMP) and are regularly audited by Health Canada and the FDA.