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Lantheus Announces Payment to Contingent Value Rights (CVR) Holders of $99.7 million or $1.15 per CVR
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PYLARIFY success leads to maximum payment in first year
BEDFORD, Mass., May 23, 2023 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (“Lantheus”) (NASDAQ: LNTH), a company committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease, today announced that it has instructed the rights agent to distribute $99.7 million to the holders of Contingent Value Rights (CVRs), which were issued in conjunction with Lantheus’ acquisition of Progenics Pharmaceuticals, Inc. on June 19, 2020.
Each CVR entitled its holder to receive a pro rata share of aggregate cash payments equal to 40% of U.S. net sales generated by PYLARIFY in 2022 and 2023 in excess of $100.0 million and $150.0 million, respectively, subject to a maximum amount allowed to be paid. As a result of the net sales generated by PYLARIFY in 2022, the maximum aggregate cash payment of $99.7 million is being distributed to the holders. This is the first and final payment related to the CVRs and is in full satisfaction of Lantheus’ payment obligations related to the CVRs.
If your CVRs are held with your broker, please contact your broker for information specific to your holdings. If your CVRs are held at the rights agent, Computershare Trust Company, N.A., please contact Computershare for information specific to your holdings. Holders of CVRs should consult their tax advisor as to the tax treatment of the CVRs.
About Lantheus With more than 65 years of experience in delivering life-changing science, Lantheus is committed to improving patient outcomes through diagnostics, radiotherapeutics and artificial intelligence solutions that enable clinicians to Find, Fight and Follow disease. Lantheus is headquartered in Massachusetts and has offices in New Jersey, Canada and Sweden. For more information, visit www.lantheus.com.
Contacts: Mark Kinarney Vice President, Investor Relations 978-671-8842 ir@lantheus.com
lantheus holdings, inc. (nasdaq: lnth) is the parent company of lantheus medical imaging, inc. (lmi), which is a global leader in the development, manufacture and commercialization of innovative diagnostic imaging agents and products. lmi provides a broad portfolio of products, which are primarily used for the diagnosis of cardiovascular diseases. lmi’s key products include the echocardiography contrast agent definity® vial for (perflutren lipid microsphere) injectable suspension; technelite® (technetium tc99m generator), a technetium-based generator that provides the essential medical isotope used in nuclear medicine procedures; and xenon (xenon xe 133 gas), an inhaled radiopharmaceutical imaging agent used to evaluate pulmonary function and for imaging the lungs. the company is headquartered in north billerica, massachusetts with offices in puerto rico and canada. for more information, visit www.lantheus.com.
