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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Dated March 3, 2000
PHOENIX INTERNATIONAL LIFE SCIENCES INC.
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(Translation of registrant's name into English)
2350 Cohen Street
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Saint Laurent, Quebec Canada H4R 2N6
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F Form 40-F X (commenced in calendar
------ ----- year 1998)
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PHOENIX INTERNATIONAL LIFE SCIENCES INC.
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(Registrant)
Date: March 3, 2000 By: /s/ David Moszkowski
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David Moszkowski
Senior Vice President and
Chief Financial Officer
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Exhibit 99.1
PHOENIX INTERNATIONAL DIVESTS PRECLINICAL SERVICES UNIT
IN SCRANTON, PENNSYLVANIA
Montreal, March 2, 2000 - Phoenix International Life Sciences (NASDAQ: PHXI;
TSE:PHX), one of the world's leading contract research organizations, today
announced the sale of its Preclinical Services unit in Scranton, Pennsylvania
(formerly Chrysalis Preclinical Services) to North Carolina-based Calvert
Holdings Inc., a privately held company focused on providing a complete range of
preclinical services. The transaction is expected to be complete within the next
several weeks.
"We are divesting our Scranton facility as part of our commitment to streamline
previously acquired assets that are not strategic, " said Ian Lennox, Chief
Executive Officer of Phoenix International. "We will continue to offer our
clients a full range of toxicology and metabolism services through our
facilities in Montreal and Lyon, France. This decision is consistent with our
plans to consolidate operations in all service lines throughout Europe and North
America."
Russ McLauchlan, President and Chief Executive Officer of Calvert Holdings,
commented, "We are enthusiastic about the opportunities Chrysalis Preclinical
Services presents now and in the future. We selected this business for its
record of high quality standards and its FDA acceptance rate in the service area
we are interested in pursuing - preclinical testing in pharmacology and
toxicology."
Calvert Holdings has committed to long-term investment and facility enhancements
that will substantially benefit the Scranton operation.
ABOUT PHOENIX INTERNATIONAL
Phoenix International is one of the world's leading contract research
organizations. The Company is a global leader in early stage pharmaceutical
development and has a growing presence in late stage pharmaceutical development.
Headquartered in Montreal, Quebec,
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the Company employs over 2,200 people in 19 countries around the world. Phoenix
International is on the worldwide web at www.pils.com.
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About Calvert Holdings Inc.
Calvert Holdings Inc. is a newly founded management organization (incorporated
in 1996) focused on providing a comprehensive range of services to the
pharmaceutical and biotechnology industry. Calvert Holdings offers preclinical
services in the areas of pharmacokinetics, pharmacology, formulation
development, toxicology, manufacturing of clinical supplies and product and
process validation.
This release contains "forward-looking" statements regarding future results and
events, including statements regarding expected future revenues, earnings and
growth rates and goals and operating plans of management. Phoenix's actual
future results may differ significantly from the results discussed in the
forward-looking statements contained in this release. Factors that may cause
such a difference include, but are not limited to: the inability of Phoenix to
win new business at the levels required; the cancellation or delay of contracts;
risks associated with the management of growth and the ability to attract and
retain employees; risks of integrating newly acquired businesses; competition;
any claims for patent infringement; the ability to obtain future financing;
adverse regulatory developments; foreign exchange rate fluctuations; and
uncertainty surrounding the Euro.
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FOR MORE INFORMATION, PLEASE CONTACT:
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MEDIA: ANALYST CONTACT:
RICHARD GAREAU DAVID MOSZKOWSKI, C.A.
Director of Communications Senior V.P. and Chief Financial Officer
Phoenix International Life Sciences Inc. Phoenix International Life Sciences Inc.
Tel: (514) 333-0033 Tel: (514) 333-0033 Fax: (514) 335-8351
E-mail: [email protected] E-mail: [email protected]
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CALVERT HOLDINGS:
Russ McLauchlan
President and Chief Executive Officer
Tel.: (919) 854-4453 Fax: (919)854-2806
E-mail: [email protected]
