BATON ROUGE, La., Sept. 13, 2011 /PRNewswire via COMTEX/ -- Albemarle Corporation /quotes/zigman/135848/quotes/nls/alb ALB +1.28% , a global developer, manufacturer and marketer of highly engineered specialty chemicals, announced today that it will increase global prices for generic active pharmaceutical ingredients by 8-12% depending on the specific product. The price increases will take effect October 15, 2011, or as contracts allow.
Albemarle is committed to meeting the growing demand of our customers and regulatory agencies through continued investment in our business. This price increase will ensure that through a challenging economic environment, we are able to maintain the superior quality, regulatory status and services that our customers require and have come to expect from Albemarle.
Albemarle's generic active pharmaceutical ingredients are part of the company's Fine Chemistry Services Division in the Fine Chemistry global business unit. Albemarle's Fine Chemistry Services (FCS) division makes and markets bulk and niche active pharmaceutical ingredients (APIs) for over-the-counter and prescription drugs, and provides custom manufacturing, R&D and other services to makers of pharmaceuticals, agricultural chemicals, specialty materials and other high-value markets.
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer, and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services. Albemarle is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts and Fine Chemistry. Corporate Responsibility Magazine selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010 and 2011. Albemarle employs approximately 4,000 people and serves customers in approximately 100 countries. Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, Regulation G reconciliations, SEC filings, and other information regarding the Company, its businesses and the markets we serve.
Albemarle's Fine Chemistry Services (FCS) Division is an innovative, full-service provider of fine chemicals to the world's leading companies across the pharmaceutical, agrochemical, and specialty materials markets. Albemarle's FCS Division helps global customers complete hundreds of successful projects through a powerful combination of proven chemistry expertise, game-changing process development, high-quality custom manufacturing and exceptional service. From innovative R&D to commercial-scale production, Albemarle's FCS Division delivers the knowledge, experience, resources, creativity and service you need to move products to market faster and accelerate your business. To learn more about Albemarle's FCS Division, please visit www.albemarle.com/fcs .
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.