International Isotopes posts results

Radiopharmaceutical manufacturer International Isotopes last month posted its fiscal 1998 results (end-December). The Denton, TX, firm reported revenues of $2 million for the year, a dramatic increase over 1997’s $136,000. The company attributed the increase to its International Isotopes Idaho subsidiary’s product sales, as well as income from development contracts. The company’s net loss for the year was $5.5 million, compared with the previous year’s $4.4 million loss.

In other news, the firm last month formed a joint venture with GammaPlus, an Austin, TX-based subsidiary of Lucas Medical Associates that operates short-lived radiopharmaceutical manufacturing centers. The joint venture will be called GammaPlus DFW, and will manufacture and distribute PET radiopharmaceuticals, including fluorodeoxyglucose F-18 (FDG). GammaPlus DFW will produce FDG with International Isotopes’ cyclotron, and expects to begin distributing the isotope within the next few months, according to Carl Seidel, president and CEO of International Isotopes. Distribution will be primarily to hospitals and clinics in the Dallas/Fort Worth area, Seidel said.