Sale of Radiochemicals Business
Tocris Bioscience sells radiochemistry business to ARC
July 11, 2005 - Tocris Bioscience (Bristol, UK) announced today that it has completed the sale of its radiochemistry business to American Radiolabeled Chemicals ("ARC") of St. Louis, Missouri, USA.
The sale marks the end of Tocris' 15-year involvement in radiochemicals as it includes both the Company's unique range of off-the-shelf radioactively labelled research chemicals as well as all associated custom radiosynthesis services.
"The successful disposal of our radiochemistry division allows us to direct all of our efforts now towards continuing the rapid growth of Tocris' core Life Science business," said Laurence Ede, Tocris' Managing Director.
President of ARC Dr. Surendra Gupta added "The decision to acquire the Tocris range of radioligands was a natural one for us and supports our plan to open a European Headquarters in the near future."
Terms of purchase have not been disclosed, other than that the deal was in cash.
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