MERIDIAN, Idaho, Nov. 26 /PRNewswire-FirstCall/ — RxElite Holdings, Inc. (OTC Bulletin Board: RXEI), a developer, manufacturer, and marketer of specialty generic prescription drug products, announced today that the Company will host a groundbreaking ceremony on December 12, 2007 at the worksite of their new corporate facility in Nampa, Idaho. RS Hosac, Inc. is the developer for the site and is working with RxElite to build out the entire 17-acre campus over time.
Expected in attendance at the ceremony will be Governor C.L. “Butch” Otter and Nampa Mayor Tom Dale, and several other local supporters and dignitaries. RxElite will use the new facility to house corporate offices and consolidate warehousing space as well as position themselves for future growth as a part of their strategy to work with hard to manufacture generic pharmaceuticals.
“This facility has been designed to be a flexible, cost-effective operation that can accommodate the future growth of the business and integrate a strategic vision around hard to make generic drugs,” stated Earl Sullivan, RxElite's Chief Operating Officer. “The encouragement provided by our elected officials as well as the assistance from Bob Hosac has really assured that this strategy becomes a reality.”
RxElite expects to add over 150 core jobs to the local area, and open up a whole new industry for Idaho's economy. Governor Otter commented, “As a Canyon County native, I'm proud that local folks stepped forward to address the needs of a valued local employer and corporate citizen. As Idaho's governor, I'm proud that we have the kind of workforce, responsive government and quality of life that can attract and keep great employers producing great products and providing great jobs. Congratulations, RxElite on a milestone in your business development.” “We are excited to welcome RxElite to the Nampa community. This is a great company bringing good jobs to Nampa for our citizens, in a clean, stable industry sector. This is the type of economic development we are encouraging as we seek to build a diversified, stable economic base in our community,” stated Mayor Tom Dale.
The initial building will occupy 6 of the 17-acre site and will house an 83,000 square foot building designed to accommodate corporate offices, warehousing and distribution. Near and long-term plans allow for the organic growth of the facility at the new Nampa location, expanding operations that ultimately could encompass the full 17-acre site and create a fully integrated strategy around hard to manufacture generic pharmaceuticals.
About RxElite, Inc.
RxElite, Inc. develops, manufactures, and markets generic prescription drug products in specialty generic markets. These markets include products in the areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics, and injectable drugs), and transdermal patch products.
About RS Hosac
RS Hosac Inc. is a privately held commercial real estate developer of industrial, retail, office/flex, and residential condominiums, and a commercial real estate brokerage headquartered in Boise, Idaho.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Contact:
Corporate Information
Ph: (208) 288-5550
Toll Free: (800) 414-1901
Fax: (208) 288-1191
Investor Relations
Charlie Forshee, 215-885-4981
investorrelations (at) rxelite (dot) com
Segue Ventures LLC
SOURCE RxElite, Inc.
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