December 6, 2023
WEST LAFAYETTE, Ind., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced that the Company will be partnering with Vanguard Supply Chain Solutions LLC, the Company’s current provider of transportation services, to enable the in-house integration of Inotiv’s North American transportation operations.
By taking direct control of its transportation operations, the Company expects to achieve key efficiencies to strengthen internal operations, improve its outgoing supply chain, and bolster service and scientific continuity for clients.
Robert Leasure, Jr., Inotiv’s President and Chief Executive Officer, commented, “The in-house integration of our transportation operations marks a pivotal step in our ongoing commitment to “One Inotiv” and the unified vision we strive for across all facets of our business. We expect this transition to result in streamlined processes, increased efficiency, and enhanced service and faster response times for our valued clients.” Mr. Leasure concluded, “We appreciate the support of the Vanguard team during this transition and for their flexibility and dedication over the last twelve months as we’ve worked to rationalize our facility footprint and optimize our transportation routes.”
The transition is expected to be complete by early January 2024.
Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical R&D projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotivco.com/.
This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to the ability to successfully assume, integrate and realize efficiencies and other benefits related to transportation operations, the impact of events related to non-human primate matters on the Company’s business, operations, results, financial condition, cash flows, and assets, the Company’s ability to comply with covenants under its credit agreement, Company’s ability to reduce its legal and third party fees, changes in the market and demand for the Company’s products and services, the development, marketing and sales of products and services, changes in technology, industry and regulatory standards, the timing of acquisitions and the successful closing, integration and business and financial impact thereof, governmental regulations, inspections and investigations, claims, investigations and litigation against or involving the Company, its business and/or its industry, the impact of site closures and consolidations, expansion and related efforts, and various other market and operating risks, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission.
Beth A. Taylor, Chief Financial Officer