Radiopharmaceutical firm Ion Beam Applications (IBA) announced that it has signed a cooperative agreement with Biotech Cyclotron of Texas for the delivery of PET compounds and the sale of two of its facilities.
Effective December 1, 2008, Biotech will supply PET compounds to IBA customers in parts of New Mexico, Utah, Colorado, northeastern Texas, and Nevada, according to the Louvain-la-Neuve, Belgium-based company. The agreement allows IBA to expand the reach of its distribution network, supported by 47 PET radiopharmaceutical production and distribution facilities worldwide, of which 17 operate in North America. It also enables IBA to more efficiently serve its national accounts in the western U.S., according to the company.
In addition, the deal includes the sale of IBA's Albuquerque, NM, and Lubbock, TX, facilities to Biotech for an undisclosed amount.
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