MDS Nordion Signs Framework Agreement for Collaborative Alliance with JSC ‘Isotope’
MDS Nordion secures exclusive Mo-99 supply through framework agreement
This framework agreement is intended to facilitate the collaboration and build the business relationship between MDS Nordion and Isotope. The collaboration may result in the creation of joint ventures, supply agreements or other mutually beneficial supply arrangements, in order to efficiently sell isotopes outside of
“MDS Nordion is our preferred partner for the international sales and marketing of Mo-99 and all other isotopes of mutual interest,” said
As an important collaborative initiative under the umbrella of this framework agreement, MDS Nordion has entered into a supply agreement with Isotope for a supplemental supply of Molybdenum-99 (Mo-99) until 2020.
Under the terms of the supply agreement, Isotope will supply Mo-99 to MDS Nordion on an exclusive basis for processing, distribution and sale outside of the
“As part of the economical and technological development activities of the
The Russian Federation Government and Rosatom State Corporation have invested in both new and existing infrastructure in order to bring on this new Mo-99 capacity. Initial quantities of supply will be incremental. However, over several years the expectation is to have supply available of up to 20 per cent of global Mo-99 demand to back up MDS Nordion’s long term requirements. Receipt of supply from Isotope is expected to commence in the first half of fiscal 2011.
“This new supply agreement is important as it comes at a time when our customers, and in turn the nuclear medicine community, are looking for greater stability and long term reliability in their supply network.,” says
Medical isotopes are used by physicians to better diagnose and treat a number of diseases, including cardiac and neurological conditions, and several types of cancer. Mo-99, and more specifically the derivative medical isotope technetium-99m, is utilized in approximately 80 per cent of nuclear medical procedures worldwide.
About MDS Inc.
MDS Inc. (TSX: MDS; NYSE: MDZ) is a global health science company that provides market-leading products and services used for the prevention, diagnosis and treatment of disease. We are a leading provider of innovative technologies for use in medical imaging and radiotherapeutics, and sterilization technologies benefiting the lives of millions of people in more than 65 countries around the world. Our products and services are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories. MDS has more than 600 highly skilled people in five locations. Find out more at www.mdsnordion.com.
SOURCE MDS Inc.