ST. LOUIS, and SENEFFE, Belgium, Oct. 14 /PRNewswire/ -- Mallinckrodt Inc.
(NYSE: MKG) and International Brachytherapy S.A. (IBt on the EURO.NM Belgium)
announced today that the two companies have signed a letter of intent to
negotiate an agreement for Mallinckrodt, one of the worldwide leaders in
nuclear medicine and diagnostic imaging, to distribute IBt's brachytherapy
implants in Europe.
The anticipated agreement will include palladium and iodine implants used
for the treatment of localized prostate cancer. It will cover all of the
European continent as well as the African continent and the near and middle
Orient. It will be a five-year mutually exclusive agreement with annual
minimum sales levels and will provide for Mallinckrodt to pay IBt
approximately $2 million (BEF 72.6 millions -- euro 1.8 millions) for the
distribution rights.
Both IBt and Mallinckrodt have agreements with other partners to
distribute brachytherapy seeds in the United States and will continue to
pursue opportunities for distribution partnerships in Latin America and Asia
Pacific.
International Brachytherapy S.A., a Belgian start-up company listed on the
EURO.NM, has as its mission to develop, manufacture and market on a worldwide
basis a complete range of radiotherapeutic implants used in brachytherapy.
Brachytherapy is a minimally invasive medical procedure which involves placing
implants that contain a small quantity of a radioactive isotope inside the
tumor. The precisely positioned implants act to destroy the cancerous cells.
Mallinckrodt is a global manufacturer and marketer of specialty healthcare
products. Based in St. Louis, Missouri, USA, the company had net sales of
$2.6 billion in fiscal 1999, operates in more than 100 countries and has three
healthcare product groups -- Imaging, Pharmaceuticals and Respiratory. The
Mallinckrodt nuclear medicine product line includes products used for both
diagnostics and therapeutics. The Mallinckrodt website address is
http://www.mallinckrodt.com .
Contact: Media, Barbara Abbett, 314-654-5230, barbara.abbett@mkg.com,
Investors, Barbara Gould, 314-654-3190, Invest@mkg.com, both of Mallinckrodt;
or Francois Blondel of IBt, +32-64-520-811.
SOURCE Mallinckrodt Inc.
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Related links:
http://www.mallinckrodt.com
Company News On-Call:
http://www.prnewswire.com/comp/440950.html or fax,
800-758-5804, ext. 440950
CONTACT:
Media, Barbara Abbett, 314-654-5230,
barbara.abbett@mkg.com, Investors, Barbara Gould, 314-654-3190,
Invest@mkg.com, both of Mallinckrodt; or Francois Blondel of IBt,
+32-64-520-811
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