Progenics Pharmaceuticals, A Wholly-owned Subsidiary Of Lantheus Will Discontinue The Production And Promotion Of Azedra And Will Be Winding Down Its Somerset Manufacturing Site Citing Limited Usage, Associated Fixed Costs Make Azedra Untenable
Portfolio Pulse from Benzinga Newsdesk
Progenics Pharmaceuticals, a subsidiary of Lantheus (LNTH), has announced it will discontinue the production and promotion of Azedra and will be winding down its Somerset manufacturing site due to limited usage and associated fixed costs. The company plans to continue manufacturing Azedra into Q1 of 2024.
August 18, 2023 | 11:37 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Lantheus' subsidiary Progenics Pharmaceuticals' decision to discontinue Azedra could potentially impact Lantheus' revenues and operational costs.
The discontinuation of Azedra, a product of Lantheus' subsidiary, could lead to a decrease in revenues for Lantheus. Additionally, the winding down of the Somerset manufacturing site could lead to changes in operational costs. However, the impact may not be immediate as the company plans to continue manufacturing Azedra into Q1 of 2024.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100