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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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| Item 8.01. | Other Events. |
On December 3, 2020, Lantheus Holdings, Inc. issued a press release announcing that it entered into a stock purchase agreement to sell its Puerto Rico radiopharmacy and PET manufacturing facility (PMF) to PharmaLogic Holdings Corp. (“PharmaLogic”) and agreed to enter into long-term supply agreement with PharmaLogic.
The transaction includes both the Puerto Rico radiopharmacy and PMF located in San Juan, Puerto Rico. The radiopharmacy prepares individual, patient-ready doses of radiopharmaceuticals, and the PMF manufactures the drug product for individual, patient-ready doses of fluorodeoxygluocose (FDG). The long-term supply agreement provides that the Company will continue to supply PharmaLogic with the Company’s products and PharmaLogic will commit to purchase certain products. The transaction is subject to customary closing conditions and is expected to close early in the first quarter of 2021. The Company will provide certain transition services to PharmaLogic immediately following the closing.
The business performed by the Puerto Rico radiopharmacy and PMF represented revenue and net income contributions to the consolidated financial results for the trailing 12 months ended September 30, 2020 of approximately $10.9 million and $1.1 million, respectively. The purchase price for the transaction is $18 million in cash, subject to working capital and other customary adjustments. Proceeds from this transaction are intended to be used in the Company’s core businesses and product pipeline.
A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press release of Lantheus Holdings, Inc. announcing its agreement to sell its Puerto Rico radiopharmacy and PET manufacturing facility and enter into long-term supply agreement. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LANTHEUS HOLDINGS, INC. | ||
| By: | /s/ Michael P. Duffy | |
| Name: | Michael P. Duffy | |
| Title: | Senior Vice President and General Counsel | |
Date: December 3, 2020
