Photo: PharmaLogic
SPRINGFIELD, N.J. – PharmaLogic has agreed to buy Lantheus’ contract drug-development and manufacturing business and its Springfield, New Jersey facility, adding U.S. production capacity for radioactive medicines used in cancer care. Financial terms were not disclosed.
The agreement announced Monday at 4:05 p.m. Eastern includes a long-term supply arrangement under which Agilera, PharmaLogic’s therapeutic manufacturing business, will produce lutetium Lu 177 dotatate for Lantheus.
The deal has not closed. It remains subject to applicable regulatory review and customary closing conditions, and the companies said they will continue to operate independently until completion. The announcement did not give a closing date.
For New Jersey, the transaction would put the Springfield operation and its team under a new owner focused on manufacturing radiopharmaceuticals. The site’s employees will join Agilera when the deal closes. The companies did not disclose a workforce count or announce a specific investment amount, expansion schedule or new-job target.
PharmaLogic said the acquisition will expand its capacity to manufacture radiopharmaceutical therapeutics in the United States. The Springfield site supports manufacturing, research and clinical development, allowing the buyer to add an established operation rather than build a new facility from the ground up.
“This acquisition strengthens Agilera’s unique capabilities in radioligand therapies and expands our capacity in the U.S.,” PharmaLogic Chief Executive Etienne Montagut said in the announcement.
Lantheus Chief Executive Mary Anne Heino said PharmaLogic has been a manufacturing partner for the company’s PET imaging products and described it as the right long-term owner for the Springfield business. The supply agreement keeps Lantheus commercially connected to the operation after the proposed sale.
Agilera brings more than 15 years of experience supporting the development and commercial launch of radioligand therapies and currently supplies an alpha therapy to more than 30 countries, according to PharmaLogic. The buyer said adding Springfield would combine U.S. therapeutic manufacturing capacity with its existing overseas operations.
The transaction covers the manufacturing business and Springfield facility, not the purchase of Lantheus as a whole. The undisclosed price and pending regulatory review leave the deal’s valuation and completion timetable open.
JBizNews Desk | Springfield, N.J.
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