German contrast media firm Schering said that its French subsidiary, Schering S.A.S., will transfer the radiopharmaceutical business of CIS bio international to a consortium formed by Ion Beam Applications (IBA), of Louvain-la-Neuve, Belgium, and the Institut National des Radioéléments of Walloon, Belgium.
As part of the transaction, the IBA consortium acquires Berlin-based Schering's current radiopharmaceutical business. The deal is expected to close within the first half of 2006, Schering said.
Although terms of the deal were not released, Schering said that the transaction will have a negative one-time effect of approximately euro 50 million ($59.6 million U.S.) on its operating profit for fiscal year 2006.
By AuntMinnie.com staff writers
February 23, 2006
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