IBA Molecular and Mallinckrodt Nuclear Medicine announced today that their businesses will unite to create a new company called Curium. It will develop, manufacture and supply SPECT, PET and therapeutic radiopharmaceuticals to their customers.

"It's about leveraging the combined expertise, size and scale of two industry leaders with a proven track record in nuclear imaging excellence," Renaud Dehareng, current CEO of IBA Molecular and new CEO of Curium.

The company claims to have the largest, vertically-integrated radiopharmaceutical manufacturing network in the industry.
The radiopharmaceuticals will be distributed to over 24 million people from a global network of 21 manufacturing centers and a customer base of over 6,000 public and private hospitals in 70 countries.

The manufacturing centers include one Molybdenum facility, three large SPECT facilities and about 40 PET and SPECT radiopharmacies.

"We have a very strong local and global presence, which ensures that we are close to our clients, and that's really critical in our business," said Dehareng.

IBA Molecular acquired Mallinckrodt Nuclear Imaging in January for about $690 million. The enlarged business now has more than 1,500 employees around the world.

When asked if there are plans to close any existing operations or make changes to the business, Dehareng said, "We will be retaining our existing production facilities, as our manufacturing footprint underpins our key competitive advantage."

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