Draxis divests Draxis Pharmaceutica

AuntMinnie.com staff writers

Jul 22, 2003

Radiopharmaceutical firm Draxis Health of Mississauga, Ontario, has sold its Canadian pharmaceutical sales and marketing division, Draxis Pharmaceutica, to Shire BioChem, a division of Shire Pharmaceuticals Group of Hampshire, U.K.

Under the terms of the transaction, Draxis has received $9.6 million (U.S.) in cash from Shire, and could receive up to an additional $2.9 million in contingent milestone payments over the next several years. In addition, Draxis will receive royalty payments based on continuing Canadian sales of the products included in the transaction at various product-specific rates.

By AuntMinnie.com staff writers
July 23, 2003
Related Reading

DraxImage, Bristol-Meyers Squibb extend partnership, July 2, 2003

Draxis shuffles management, June 3, 2003

DraxImage begins U.S. shipments of I-131 kit, April 3, 2003

Draxis Health reports record earnings, February 6, 2003

DraxImage gets clearance for radiotherapeutic kit, January 29, 2003

Copyright © 2003 AuntMinnie.com

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