AAA acquires GE Healthcare’s FDG-PET Radiopharmaceutical Business in Italy
Posted: 11 September 2014 | | No comments yet
Advanced Accelerator Applications strengthens its position in the Italian PET Radiopharmaceutical Market…
Advanced Accelerator Applications (“AAA” or “the Company”), an international specialist in Molecular Nuclear Medicine (MNM) announced today that it has entered into an agreement with GE Healthcare in Italy to acquire its Italian FDG-PET imaging agent business (fluorodeoxyglucose photon emission tomography). This acquisition includes the licence to market GE Healthcare’s SteriPET® (FDG) imaging agent in Italy. With this acquisition AAA reinforces its position as one of the leading companies in the PET market in Italy.
Stefano Buono, Chief Executive Officer of AAA, commented: “This acquisition is in line with AAA’s growth strategy of further consolidating our position as a leading pan-European nuclear diagnostics company, alongside exploring additional product pipeline opportunities and avenues for expansion in the United States and outside Europe.”
Enrico De Maria, CEO of AAA Italy, added: “We believe that this transaction will enable AAA Italy to benefit from economies of scale from which we can continue providing quality products and services at reduced costs in a market that has been experiencing a reduction of FDG’s price over the last years.”
Today AAA is a leader in Molecular Nuclear Diagnostics in Europe with a portfolio of six diagnostic PET and SPECT products and several diagnostic and therapeutic product candidates including flagship product candidate Lu-DOTATATE, currently in a pivotal Phase III clinical trial for the treatment of GEP-NETs (an orphan disease) in 51 clinical centers in the United States and Europe.
AAA’s leading diagnostic PET product is Gluscan®, its branded fluorodeoxyglucose (FDG) PET imaging agent. Gluscan®assists in the diagnosis of serious diseases, primarily in oncology, by assessing glucose metabolism. AAA is building on its diagnostics foundation by developing additional MND product candidates to further strengthen its existing portfolio.
AAA is very active in the European PET market with 13 PET production facilities based in France, Germany, Italy, Poland, Portugal and Spain. With this acquisition AAA intends to broaden its presence in the Italian PET market and add to its existing production capacity and portfolio.