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.
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.
Vice President, Investor Relations
Senior Director, Corporate Communications
Source: Lantheus Holdings, Inc.