AAA announced today that it has acquired 100% of the shares of the IDB Group. The IDB Group, located in Baarle-Nassau, the Netherlands, includes IDB Holland bv, IDB Radiopharmacy bv and Beheermaatschappij Welde bv and is a leading manufacturer of Lutetium 177 (Lu-177). IDB produces, markets and sells Lu-177 under the brand name LuMark®, and has established this product as the leading brand of Lutetium 177 worldwide. LuMark® is the only Lu-177 product to have received European Marketing Authorization.
Acquiring the IDB Group will enable AAA to own one of its two providers of Lu-177 for Lutathera and build its own Lu-177 manufacturing business. This acquisition strengthens AAA’s leadership position in European MNM and is in-line with the Company’s vertical integration strategy. Owning the IDB Group will help AAA maintain a reliable supply of Lu-177 for the production of Lutathera and AAA’s future product candidates.
Stefano Buono, Chief Executive Officer of AAA commented: “We believe that our key product candidate Lutathera (177Lu-DOTATATE) has the potential to dramatically shift the treatment paradigm for patients with progressive neuroendocrine tumors and improve the standard of care for this disease. With this shift in treatment, Lu-177 chloride has a significant opportunity to be recognized as an important radiopharmaceutical precursor.”
Gérard Ber, Chief Operating Officer of AAA added: “Acquiring the IDB Group enables AAA to gain the potential to expand the Company’s presence to the Netherlands for both our current portfolio of F-18 products as well as our product candidates Somakit and Lutathera. AAA will continue to serve IDB clients around the world and further expand and improve our services. This acquisition provides AAA with a key strategic asset allowing the Company to build an independent Lu-177 manufacturing business, while helping to expand the current presence of its F-18 portfolio, Lutathera, and Somakit, in the Netherlands.”