Radiopharmaceutical firm Ion Beam Applications (IBA) of Louvain-la-Neuve, Belgium, is considering listing its pharmaceuticals business unit on the stock market to focus on its more profitable equipment business.
The company's pharmaceuticals division includes operations in both the radiopharmaceuticals and bioassays business segments. IBA's strategic business options were disclosed in the company's financial report for the first half of 2010 (end-June 30).
Revenues from sales and service increased slightly to 181.3 million euros ($230.2 million U.S.) in the first six months of 2010, compared with 180.8 million euros ($229.6 million U.S.) in the same period of 2009. The company's net profit, however, decreased to 2.6 million euros ($2.9 million U.S.) in the first half of 2010, compared with 3.2 million euros ($4.1 million U.S.) in the same period a year ago.
In its midyear financial statement, IBA noted that it plans to seek partners to meet market demand and keep funding its radiopharmaceuticals segment, which accounts for 60% of the company's sales.
"IBA could explore all the possibilities to reach this objective, without excluding an IPO of the activity, if the circumstances are adequate," the company stated.
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