AAA Strengthens European Radiopharmaceutical Manufacturing Network
SAINT GENIS POUILLY, France, February 1, 2013 /PRNewswire/ --
- Acquisition of two well established radiopharmaceutical companies in Barcelona, Spain
- Entry into Polish market following agreement with the University of Warsaw
Advanced Accelerator Applications SA ("AAA"), a fast growing international player in Molecular Nuclear Medicine (MNM), today announced further expansion of its European radiopharmaceutical manufacturing network in Spain and Poland. The moves will enable AAA to enter Poland directly for the first time and strengthens AAA's leading position in the Iberian Peninsula.
Acquisition of two radiopharmaceutical companies in Spain
AAA has acquired two well established radiopharmaceutical companies in Barcelona, Spain: Barnatron and Catalana De Dispensación, S.A. (Cadisa). Established in 2001, Barnatron is an authorised manufacturer and distributor of radiopharmaceuticals for diagnostic use in Positron Emission Tomography (PET). The company's manufacturing laboratory is the only one in Spain to have two high-capacity cyclotrons. Barnatron also works closely with the Experimental Molecular Imaging Centre, conducting research into new radiopharmaceuticals in collaboration with the Unit of Glycoconjugate Chemistry from the Spanish National Research Council. For the year ended 2012, Barnatron had sales totaling €2.6 million. Cadisa was established in 1995 and manufactures and supplies radiopharmaceutical products for Single Photon Emission Tomography (SPECT) to hospitals in Spain. Its facility is approved by the Nuclear Safety Council and the Ministry of Health and has the capacity to produce more than 100,000 doses per year. For the year ended 2012, the company had sales totaling €2.6 million.
AAA has existing facilities in Zaragoza and Porto, and one under construction in Murcia. With the addition of Barnatron and Cadisa, the Company will be able to efficiently supply the whole of the Iberian Peninsula.
Entry into the Polish market
AAA and its fully owned Polish subsidiary Advanced Accelerator Applications Polska have signed a long-term collaboration agreement with UWRC SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ (UWRC), a fully owned subsidiary of the University of Warsaw, to manufacture and develop radiopharmaceutical products for the Polish market. Under the terms of the agreement, AAA will manage the Radiopharmaceutical Production and Research Centre, located in the Heavy Ion Laboratory at the University of Warsaw, Poland. AAA will manufacture and supply hospitals in Poland with Gluscan®, its FluoroDeoxyGlucose (FDG) tracer and other products. Gluscan® is used in PET to image and diagnose a number of diseases including cancer, CNS and autoimmune disorders. Both UWRC, jointly with the Heavy Ion Laboratory, and AAA will conduct research in the facilities with the aim of developing new radiopharmaceutical products.
The University of Warsaw and AAA's long-term cooperation is based on a shared conviction of the important growth prospects of the molecular medicine market in Poland. With approximately 40 million people and less than 20 PET scanners installed, the Polish market is poised to grow significantly over the next few years.
Stefano Buono, Chief Executive Officer of AAA, said: "The acquisitions of Cadisa and Barnatronand our recent entry into the Polish market are another step forward in our strategy to aggressively expand our European radiopharmaceutical manufacturing network.
AAA currently operates 10 European laboratories serving eight countries and has several others under construction. With the increasing demand for better diagnosis leading to cost-effective treatment, the MNM market is experiencing significant growth. There are currently 20 new proprietary F-18 products in clinical development; the first was approved two weeks ago by the EMA for Alzheimer's disease. We believe many of the others will reach the market in the next four to five years and will need to be produced in Europe. PET tracers are very challenging to manufacture due to their short shelf life of approximately 10 hours. With our specialised European expertise and extensive growing network of laboratories, we believe we are well-placed to profitably manufacture these molecules for both existing and new partners."
About Advanced Accelerator Applications
Advanced Accelerator Applications (http://www.adacap.com), is a European pharmaceutical company founded in 2002 to develop innovative diagnostic and therapeutic products. AAA's main focus is in the field of Molecular Imaging and targeted, individualised therapy for the management of patients with serious conditions (Personalized Medicine). AAA currently has 16 production and R&D facilities able to manufacture both diagnostics and therapeutic MNM products and more than 240 employees in 10 countries (France, Italy, Germany, Switzerland, Spain, Poland, Portugal, Israel, U.S., Canada).
In 2011 AAA reported revenues of €35.8 million (+20.6% vs. 2010), an EBITDA of €5.94 million and R&D investment and charges in excess of €13 million (39% of sales).
SOURCE Advanced Accelerator Applications