Lantheus Holdings is selling its radiopharmacy and its PET manufacturing facility in San Juan, Puerto Rico, to PharmaLogic for $18 million.
The Puerto Rico businesses sell individual doses of the FDG radiopharmaceutical, and under the terms of the deal, nuclear medicine supplies will continue to be commercially available in Puerto Rico, according to Lantheus. Furthermore, the deal includes a long-term agreement for PharmaLogic to purchase supplies from Lantheus.
Proceeds from the sale will be used for investment in core businesses and pipeline products, said North Billerica, MA-based Lantheus, which is the parent company of Lantheus Medical Imaging and Progenics Pharmaceuticals. For PharmaLogic, the agreement furthers a goal for North American expansion. The deal is expected to close in the first quarter.
