Lantheus To Acquire Progenics In All-Stock Deal - Quick Facts

(RTTNews) - Lantheus Holdings, Inc. (LNTH) has agreed to acquire all of the issued and outstanding common shares of Progenics Pharmaceuticals, Inc. (PGNX) stock. Progenics shareholders will receive 0.2502 shares of Lantheus stock for each share of Progenics. The companies had pro forma combined revenue of $370.1 million for the 12 months ended June 30, 2019. The combination is expected to enhance cash flow generation and be accretive to adjusted and reported earnings per share by 2022 and 2023, respectively.

The combined company will be led by Lantheus CEO Mary Anne Heino, and will trade on the NASDAQ under the ticker symbol, LNTH. Robert Marshall Jr. will assume the position of Chief Financial Officer, while John Bolla will serve as Chief Operations Officer. The deal is anticipated to close in the first quarter of 2020.