Printer Friendly

Nordion divests Targeted Therapies business.

Nordion, Inc. has entered into an agreement to divest its Targeted Therapies business to BTG plc, a specialist healthcare company based in London, for $200 million in cash. The transaction is expected to close by the end of June 2013.

BTG will acquire TheraSphere, a targeted liver cancer therapy, and Nordion has agreed to continue manufacturing TheraSphere under a Manufacturing and Support Agreement for three years, plus a two-year extension at BTG's option. Approximately 40 Nordion employees are expected to join BTG.

"Nordion built TheraSphere into a valuable product over the past decade and has positioned it for future growth and development. Given BTG's position as a leader in interventional medicine, we believe it is an ideal home for TheraSphere and the talented people that support it," said Steve West, chief executive officer, Nordion.

COPYRIGHT 2013 Rodman Publishing
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:INDUSTRY NEWS
Publication:Contract Pharma
Date:Jun 1, 2013
Words:134
Previous Article:Penn Pharma completes batch at new site.
Next Article:Bend Research expands capabilities.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters