Amersham buys Sorin Diagnostics
Radiopharmaceutical developer Amersham International in Decemberbought the radiopharmaceutical business and associated assets of Sorin Diagnosticsof Italy from parent Sorin Biomedica. Amersham, of Buckinghamshire,U.K., paid an initial consideration of
Radiopharmaceutical developer Amersham International in Decemberbought the radiopharmaceutical business and associated assets of Sorin Diagnosticsof Italy from parent Sorin Biomedica. Amersham, of Buckinghamshire,U.K., paid an initial consideration of Lit 22 billion ($13.9 million)in two installments, to be followed by payments ranging from Lit5 billion ($3.1 million) to Lit 28 billion ($17.6 million), dependingon sales results.
Amersham believes that the acquisition will boost its operationsin southern Europe. The company will combine its radiopharmaceuticalbusiness in Italy with Sorin's to form a new division known asAmersham Sorin Radiofarmaci. Sorin posted 1995 annual sales ofLit 33.7 billion ($21.2 million), with pretax profit of Lit 4.2billion ($2.6 million).