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Wednesday, October 2, 2019

Lantheus Holdings to buy Progenics

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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