Corning and Gerresheimer Collaborate to Deliver Ne
Post# of 301275
Remarkable glass innovation enables enhanced quality parenteral packaging
CORNING, N.Y. and DUSSELDORF, GERMANY; JULY 24, 2017 - Corning Incorporated (NYSE: GLW) and Gerresheimer AG announce that they are accelerating the supply of Corning Valor(TM) Glass to the pharmaceutical industry.
Valor Glass is a breakthrough glass container engineered for the storage and delivery of 21 st century injectable drugs. Valor Glass is an unprecedented improvement in glass container quality. Valor Glass's superior strength, chemical durability and damage resistance result in better protection for drug products. Valor Glass also enables increased throughput and higher levels of quality assurance for pharmaceutical companies, and higher-quality medicines for patients. Corning and Gerresheimer have been working together since 2015 to accelerate Corning innovations for the pharmaceutical glass packaging market.
"We are thrilled to be working with Corning on innovations to enhance quality across the industry. Valor Glass is a remarkable Type I glass with outstanding performance on every attribute," said Uwe Röhrhoff , chief executive officer of Gerresheimer.
"Gerresheimer is a long-standing leader in the industry. They've been a terrific collaboration partner, and we're excited to be working with them to bring Valor Glass to the pharmaceutical industry," said Ron Verkleeren, vice president and general manager, Corning Pharmaceutical Technologies .
Forward-Looking and Cautionary Statements This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning's financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
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About Gerresheimer Gerresheimer is a leading global partner to the pharma and healthcare industries. The company's special glass and plastic products contribute to health and well-being. Gerresheimer is a global organization with 10,000 employees and manufacturing operations in the local markets, close to customers. It has over 40 production facilities in Europe, North and South America and Asia generating revenue in excess of EUR 1.4 billion. The comprehensive product portfolio includes pharmaceutical packaging products as well as convenient and safe drug delivery systems such as insulin pens, inhalers, pre-fillable syringes, vials, ampoules, bottles and containers for liquid and solid pharmaceuticals with closure and safety systems, plus cosmetic packaging products.
About Corning Incorporated Corning ( www.corning.com ) is one of the world's leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people's lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning's businesses and markets are constantly evolving. Today, Corning's products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.
Media Relations Contacts: Elizabeth M. Dann (607) 974-4989 dannme@corning.com
Chelsea Tracy-Zelko (607) 974-4450 tracycr@corning.com Investor Relations Contact: Ann H.S. Nicholson (607) 974-6716 nicholsoas@corning.com
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