PharmaNet and Anapharm Europe Formally End Joint Venture

PharmaNet Development Group, Inc. and Anapharm Europe, S.L., both providers of drug development services to the pharmaceutical, biotechnology, generic drug and medical device industries, announced that their joint venture for the collaborative provision of bioanalytical services officially ended December 22, 2010. In conjunction with the termination of this relationship,

Dr. Maria Cruz Caturla, Anapharm Europe's majority shareholder, has purchased PharmaNet's minority ownership interest, thus becoming the sole owner of the company. The companies will independently continue to invest in, and provide to clients, bioanalytical services in their respective laboratory facilities. Additionally, to the extent necessary, the companies will provide coordinated support for those client projects undertaken jointly during the term of the joint venture.