PGNX - Lantheus to sell its Puerto Rico PET radiopharmacy facilities to PharmaLogic

Lantheus Holdings (LNTH) , the parent company of Lantheus Medical Imaging, Inc. and Progenics Pharmaceuticals (PGNX) entered into a stock purchase agreement to sell its Puerto Rico radiopharmacy and positron emission tomography ((PET)) manufacturing facility ((PMF)) to PharmaLogic Holdings (PharmaLogic).Additionally, as part of the agreement, Lantheus and PharmaLogic will also enter into a long-term supply pact under which Lantheus will continue to supply PharmaLogic with Lantheus’ products and PharmaLogic will commit to purchase certain products. The long-term supply agreement provides that Lantheus’ nuclear medicine products currently sold through the radiopharmacy will continue to be available in Puerto Rico.The purchase price for the transaction is $18M in cash.Net proceeds from this transaction are intended to be used in the Company’s core businesses and product pipeline.The transaction is expected to close early in the first quarter of 2021.

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Lantheus to sell its Puerto Rico PET, radiopharmacy facilities to PharmaLogic