Lantheus Holdings (NASDAQ:LNTH) agrees to acquire Progenics (NASDAQ:PGNX)
in an all-stock transaction, adding targeted medicines and artificial
intelligence to find, fight, an follow cancer to its portfolio.
Progenics shareholders will get 0.2502 shares of
Lantheus Holdings stock for each share of PGNX; implies a 21.5% premium
to Progenics’ 30-day volume weighted average closing stock price.
The two companies had pro forma combined revenue of $370.1M for the 12 months ended June 30, 2019.
“With this combination, we broaden our reach in
emerging uses of radioisotopes for precision diagnostics and the
exciting and expanding field of radiopharmaceuticals in oncology
treatment,” said Lantheus President and CEO Mary Anne Heino.
Deal is expected to close in Q1 2020.
https://seekingalpha.com/news/3503256-lantheus-holdings-buy-progenics
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