Advanced Accelerator Applications Strengthens its Position in the Italian PET Radiopharmaceutical Market
Saint-Genis-Pouilly, France -- (ReleaseWire) -- 09/11/2014 --Advanced Accelerator Applications (“AAA” or “the Company”), an international specialist in Molecular Nuclear Medicine (MNM) announced today that it has entered into an agreement with GE Healthcare in Italy to acquire its Italian FDG-PET imaging agent business (fluorodeoxyglucose photon emission tomography). This acquisition includes the licence to market GE Healthcare’s SteriPET® (FDG) imaging agent in Italy. With this acquisition AAA reinforces its position as one of the leading companies in the PET market in Italy.
Stefano Buono, Chief Executive Officer of AAA, commented: “This acquisition is in line with AAA’s growth strategy of further consolidating our position as a leading pan-European nuclear diagnostics company, alongside exploring additional product pipeline opportunities and avenues for expansion in the United States and outside Europe.”
Enrico De Maria, Director of AAA Italy, added: “We believe that this transaction will enable AAA Italy to benefit from economies of scale from which we can continue providing quality products and services at reduced costs in a market that has been experiencing a reduction of FDG’s price over the last years.”
Today AAA is a leader in MNM in Europe with a portfolio of six diagnostic PET and SPECT products and several diagnostic and therapeutic product candidates including flagship product candidate Lu-DOTATATE, currently in a pivotal Phase III clinical trial for the treatment of GEP-NETs (an orphan disease) in 51 clinical centers in the United States and Europe.
AAA’s leading diagnostic PET product is Gluscan®, its branded fluorodeoxyglucose (FDG) PET imaging agent. Gluscan® assists in the diagnosis of serious diseases, primarily in oncology, by assessing glucose metabolism. AAA is building on its diagnostics foundation by developing additional MND product candidates to further strengthen its existing portfolio.
AAA is very active in the European PET market with 13 PET production facilities based in France, Germany, Italy, Poland, Portugal and Spain. With this acquisition AAA intends to broaden its presence in the Italian PET market and add to its existing production capacity and portfolio.
About Advanced Accelerator Applications
Advanced Accelerator Applications (AAA) is a radiopharmaceutical company founded in 2002 to develop innovative diagnostic and therapeutic products. AAA’s main focus is in the field of Molecular Imaging and targeted, individualized therapy for the management of patients with serious conditions (“Personalized Medicine”). AAA currently has 17 production and R&D facilities able to manufacture both diagnostics and therapeutic MNM products, and has over 300 employees in 11 countries (France, Italy, UK, Germany, Switzerland, Spain, Poland, Portugal, Israel, U.S. and Canada). In 2013 AAA reported sales of €53.8 million (+31.77% vs. 2012). For more information please visit: http://www.adacap.com/
About Molecular Nuclear Medicine (“MNM”)
Molecular Nuclear Medicine is a medical specialty using trace amounts of active substances, called radiopharmaceuticals, to create images of organs and lesions and to treat various diseases, like cancer. The technique works by injecting targeted radiopharmaceuticals into the patient’s body that accumulate in the organs or lesions that reveal specific biochemical processes.
Molecular Nuclear Diagnostics employs a variety of imaging devices and radiopharmaceuticals. PET (Positron Emission Tomography) and SPECT (Single Photon Emission Tomography) are highly sensitive imaging technologies that enable physicians to diagnose different types of cancer, cardiovascular diseases, neurological disorders and other diseases in their early stages.
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This press release may contain forward-looking statements. All statements, other than statements of historical facts, contained in this press release, including statements regarding the Company's strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, EMA, U.S. FDA and other regulatory approvals for our product candidates, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process or the ability to obtain drug product in sufficient quantity or at standards acceptable to health regulatory authorities to complete clinical trials or to meet commercial demand. Except as required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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