CORNING, NY, November 19, 2021 (GLOBE NEWSWIRE) – Corning Incorporated (NYSE: GLW) presented Corning Velocity today® Vials, specially designed Type I borosilicate vials with the company’s proprietary technology, which help industry-leading drug makers respond quickly to the pandemic. The increased efficiency and throughput enabled by Velocity Vials can accelerate COVID-19 vaccine manufacturing, helping meet industry supply chain challenges and meet global demand.
Velocity vials may offer better cost efficiency, better quality, and a more environmentally friendly design compared to traditional borosilicate packaging. The uniform protective coating of Velocity Vials can improve filling line efficiency by 20-50% while reducing pharmaceutical production costs and providing a streamlined regulatory process for post-market drugs. Compared to conventional vials, Velocity vials can also reduce damage that results in particles, breaks and cracks.
Catalent, Inc. – a global manufacturing partner of leading drug makers – supports many of the most prestigious COVID-19 vaccine programs and is on track to deliver more than a billion doses in 2021. The company recently implemented implemented Velocity bottles in some of its fillings. finish lines in Bloomington, Indiana.
“Ensuring consistent, high quality production and less downtime is critical as we work to keep pharmaceutical supply chains moving, and to that extent Corning’s Velocity vials have already shown very promising results. Said Denis Johnson, vice president and general manager of Catalent’s premier pharmaceutical manufacturing plant in Bloomington. “Corning’s Velocity vials have demonstrated a significant improvement in efficiency over traditional borosilicate vials on our fill-finish lines. “
Velocity Vials joins Corning Valor® Glass vials and pharmaceutical glass tubes are the company’s latest innovation as Corning builds a comprehensive end-to-end pharmaceutical packaging portfolio. Corning products have enabled the delivery of more than 3 billion doses of COVID-19 vaccines.
Valor Glass, introduced in 2017, is a revolutionary aluminosilicate glass vial that continues to support multiple COVID-19 vaccines, playing an important role in immunizing patients around the world. Nationally, Corning continues to build on its agreements with the U.S. government to support the accelerated mass vaccination effort essential to ending the pandemic. With the invention of Velocity Vials, the company expands its long-standing role as a leader in the life science industry and expands the reach of Corning’s unique capabilities, dramatically expanding its addressable market while strengthening the supply chain for the future.
Adding to the strong position in the industry, Corning’s new high volume pharmaceutical vial manufacturing facility in Durham, North Carolina is now operational. The facility will allow the company to produce up to 500 million glass vials per year to improve the national supply chain and deliver life-saving COVID-19 vaccines in the United States and internationally.
“Our packaging portfolio and new capability allow us to expand the vital role we play in supporting the critical demand for healthcare globally, today and in the future,” said Brendan Mosher, vice president and general manager of Corning Pharmaceutical Technologies. “We see a future of better, more efficient, more sustainable pharmaceutical manufacturing with increased capacity for life-saving drugs. Corning now offers two flagship products in vials – Valor Glass and Velocity Vials – giving our customers two innovative technologies to choose from for their different use cases.
Velocity Vials are the latest example of how Corning is driving transformation in its markets through its leadership in glass and ceramic science and optical physics, as well as through its proprietary manufacturing platforms. For more information on Velocity vials, go here.
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Although the Company believes that these forward-looking statements are based on reasonable assumptions concerning, among other things, current estimates and forecasts, general economic conditions, its knowledge of its business and key performance indicators that affect the Company, actual results could differ materially. The Company does not undertake to update any forward-looking statements. Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the duration and severity of the COVID-19 pandemic , and its impact across all of our businesses on demand, operations and our global supply chains; the effects of acquisitions, disposals and other similar transactions; global business, financial, economic and political conditions; import tariffs and duties; exchange rate fluctuations between the US dollar and other currencies, primarily the Japanese yen, the new Taiwan dollar, the euro, the Chinese yuan and the South Korean won; product demand and industry capacity; competitive products and prices; the availability and costs of critical components and materials; development and marketing of new products; order activity and demand from major customers; the amount and timing of our cash flow and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the expected level or to repurchase shares at the expected levels; possible disruption of business activities due to terrorist activity, cyber attack, armed conflict, political or financial instability, natural disasters or major health problems; loss of intellectual property due to theft, cyberattack or disruption of our IT infrastructure; an unforeseen disruption to our supply chain, equipment, facilities, computer systems or operations; effect of regulatory and legal changes; ability to match capital expenditures at expected levels of customer demand; our ability to increase margins through the implementation of operational changes, pricing actions and cost reduction measures; rate of technological change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and component performance issues; retention of key personnel; the ability of customers to maintain profitable operations and obtain financing to fund ongoing operations and manufacturing expansions and to pay accounts receivable when due; loss of important customers; changes in tax laws and regulations; the impacts of controls by tax authorities; the potential impact of laws, government regulations and other government actions and investigations; and other risks detailed in documents filed by Corning with the SEC.
For a complete list of risks and other factors, please refer to the risk factors and forward-looking statements described in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.
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About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science, with 170 years of experience in life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramics science and optical physics along with its in-depth manufacturing and engineering capabilities to develop category-defining products that transform industries and improve people’s lives. Corning succeeds through sustained investments in RD&E, a unique combination of material and process innovation, and deep, trusting relationships with customers who are global leaders in their industries. Corning’s capabilities are versatile and synergistic, allowing the business to evolve to meet changing market needs, while helping our customers seize new opportunities in dynamic industries. Today, Corning’s markets include optical communications, mobile consumer electronics, display, automotive and life sciences.
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