Mallinckrodt sells its nuclear imaging business to IBA Molecular for $690 million.

Mallinckrodt plc, a leading specialty pharmaceutical company, announced that it has entered into a definitive agreement under which it will sell its Nuclear Imaging business to IBA Molecular, for approximately $690 million before tax impacts, including up-front and contingent consideration and the assumption of long-term obligations. Mallinckrodt's Nuclear Imaging business includes a portfolio of diagnostic imaging products. Though approved for use and sold for nuclear medicine procedures in many countries, approximately two-thirds of current annual revenues from Mallinckrodt's Nuclear Imaging business originate in the U.S. The business is a prominent global producer of the key medical isotope molybdenum-99, from which technetium-99m (Tc-99m) is derived. Tc-99m is used in roughly 80%1 of all nuclear medicine procedures worldwide, and Mallinckrodt is a significant U.S. and global supplier of this radioisotope.