SYNCOR ENTERS BUYING DEAL.Byline: Daily News Syncor International Corp. downplayed a decision Thursday by two of its larger customers to buy so-called radiopharmaceuticals from a new vendor. Syncor is a major provider of the drugs, used for diagnosis in therapy in nuclear medicine and noted that it receives $112 million of its $450 million in annual revenues from the customers - VHA VHA Veterans Health Administration VHA Variable Housing Allowance VHA Villages Homeowners Association VHA Voluntary Hospitals Association VHA Virtual Home Agent VHA Very High Altitude VHA Vapor Hazard Area VHA Vermont Holstein-Friesian Association Inc. and University Health Consortium. Woodland Hills-based Syncor said the new purchasing agreement with Novation The substitution of a new contract for an old one. The new agreement extinguishes the rights and obligations that were in effect under the old agreement. A novation ordinarily arises when a new individual assumes an obligation to pay that was incurred by the original party , a new buying group, will impact Syncor's annual revenue by about $15 million. It also predicted its annual earnings could improve by $2 million due to a reduction in administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. . Stock of Syncor, which made the announcement after the market closed during a short trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. , finished at $25.125, down 62.5 cents. |
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