Exhibit 99.3

[AAI PHARMA LOGO]                                                         NEWS
                                                                       RELEASE

2320 SCIENTIFIC PARK DRIVE
WILMINGTON, NC 28405
PINK SHEETS: AAIIQ.PK

                AAIPHARMA FILES CHAPTER 11 PLAN OF REORGANIZATION

WILMINGTON, N.C., NOVEMBER 7, 2005 -- AAIPharma Inc. (PINK SHEETS:AAIIQ.PK)
announced today that the Company and its domestic subsidiaries filed a Plan of
Reorganization and corresponding Disclosure Statement with the United States
Bankruptcy Court for the District of Delaware. The chapter 11 plan that the
company has filed is the product of extensive negotiations among the Company,
the Official Committee of Unsecured Creditors and the advisors to an Ad Hoc
Committee of the Company's Secured Noteholders. The Plan has the support of the
Official Committee of Unsecured Creditors and based upon discussions with the
advisors to the Ad Hoc Committee, the Company believes that the Ad Hoc Committee
will support the chapter 11 plan. These committees represent the company's key
creditor constituencies. AAIPharma and its domestic subsidiaries filed for
chapter 11 bankruptcy protection on May 10, 2005, and successfully completed the
sale of substantially all of the assets of the Company's Pharmaceuticals
Division on July 25, 2005.

"AAIPharma is making important strides in re-positioning the Company as an
innovative and premier provider of development services to customers seeking
increased R&D productivity and tailored solutions to their development
challenges," stated Dr. Ludo J. Reynders, President and CEO of AAIPharma. "We
believe that we have made the difficult but necessary decisions to create a
stronger capital structure to help ensure that AAIPharma will have the financial
strength and flexibility to grow and prosper. The filing of our chapter 11 plan
is a significant milestone in our bankruptcy case, and we are extremely pleased
with the level of support from our key creditor constituencies for our chapter
11 plan. The support that we receive from these constituencies will help us to
proceed as expeditiously as possible through the balance of this process."

A hearing on the adequacy of the Disclosure Statement has been scheduled to
commence on December 2, 2005. Court approval of the Disclosure Statement is
necessary to allow AAIPharma to begin soliciting acceptances of the plan.
Consummation of the plan is subject to a number of conditions, including, among
others, acceptance by the requisite creditors and a determination by the
Bankruptcy Court that the Plan complies with the confirmation requirements of
the Bankruptcy Code.

ABOUT AAIPHARMA

AAIPharma Inc. is a global provider of product development and support services
to the pharmaceutical, biotechnology, and medical device industries. From a
single test through a



range of integrated service offerings, we create value to an industry in search
of productivity and innovation. For more information on the Company, please
visit AAIPharma's website at www.aaipharma.com.

FORWARD LOOKING STATEMENTS

Information in this press release contains certain "forward-looking statements"
under the federal securities laws. The "forward-looking statements" herein
involve risks and uncertainties that could cause actual results to differ
materially, including, without limitation, risks and uncertainties relating to
the approval of the Chapter 11 plan as filed by AAIPharma, including the timing
of any such approval, the effect on the likelihood and timing of emergence from
bankruptcy proceedings, and any modifications to the Chapter 11 plan effected to
permit necessary approval.

CONTACTS:
Matt Czajkowski                                          Luke Heagle
Chief Administrative Officer and                         Corporate Communication
Chief Financial Officer                                  910-254-7000
910-254-7000

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