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Lantheus sells radiopharmacy and PET manufacturing facility to PharmaLogic

By Brian Buntz | December 3, 2020

Lantheus Holdings (NASDAQ:LNTH) has agreed to sell its Puerto Rico-based radiopharmacy and positron emission tomography manufacturing facility to PharmaLogic Holdings Corp.

PharmaLogic will pay $18 million to acquire the assets.

The two companies also agreed to enter into a long-term supply agreement in which Lantheus will supply PharmaLogic with a range of products.

The transaction is contingent on customary closing conditions. The two firms expect the transaction to be completed within the first quarter of 2021.

Under the terms of the agreement, Lantheus will also provide transition support to PharmaLogic following the closing.

Lantheus Holdings is the parent of Lantheus Medical Imaging and Progenics Pharmaceuticals, which specializes in developing diagnostic and therapeutic agents and products.

Similarly, PharmaLogic specializes in radiopharmaceuticals and mobile PET/CT operations.

“This transaction extends our strategic relationship with PharmaLogic, the fundamental business of which is dedicated to nuclear medicine and radiopharmaceutical production, simplifies our distribution model in Puerto Rico, and allows us to use the proceeds from the transaction to invest in our core businesses and product pipeline,” said Mary Anne Heino, CEO of Lantheus in prepared remarks.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.

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