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Nordion Inc Enters Into Agreement To Divest Targeted Therapies Business To BTG Plc


Thursday, 23 May 2013 02:00am EDT 

Nordion Inc announced that it has entered into an agreement to divest its Targeted Therapies business to BTG Plc for a cash purchase price of USD200 million. Net of cash taxes and transaction costs, Nordion expects to realize approximately USD185 million on closing. The transaction is anticipated to be completed by the end of June 2013. Nordion manufactures and commercializes TheraSphere, a targeted liver cancer therapy, the sole product in its Targeted Therapies business. Under the terms of the transaction agreements, BTG is expected to acquire TheraSphere and Nordion has agreed to continue manufacturing TheraSphere under a Manufacturing and Support Agreement with a contract term of three years, plus a two-year extension at BTG`s option. Approximately 40 Nordion employees are expected to join BTG following the completion of this transaction. 

Company Quote

811.0
11.0 +1.38%
27 Nov 2014