Features | Partner Sites | Information | LinkXpress
Sign In
Demo Company

Nordion Reports Strategic Realignment of the Company

By BiotechDaily International staff writers
Posted on 24 Sep 2012
Nordion, Inc. (Ottawa, Ontario, Canada), a global health science company, announced a strategic realignment of the business designed to focus on improving the execution of Nordion’s business strategy.

The plan includes transitioning Nordion to a business unit model with two distinct business units: targeted therapies and specialty isotopes, each of which will be supported by centralized corporate functions. The specialty isotopes business will include two segments: sterilization technologies and medical isotopes.

The company also announced the appointment of Jeff Brown, chief executive officer and founding member of Brown Equity Partners, LLC (Corona Del Mar, CA, USA), to its board of directors.

“The strategic realignment is designed to take into account the unique product life cycles and the needs of our customers in each of our businesses,” said Steve West, chief executive officer, Nordion. “The new organizational model is intended to allow for quicker decision making and provide the Nordion team with improved agility, clearer focus, and direct leadership accountability to better serve our customers and build shareholder value.”

The new Nordion leadership team intends to focus on appropriately allocating talent and resources to better support the unique characteristics of each business and their respective portfolios. Moreover, they plan to continue to evaluate opportunities that are expected to better serve our customers.

These announcements align with Nordion’s strategic priorities. The targeted therapies business unit is expected to continue to focus on building an interventional oncology business. The specialty isotopes business plans to concentrate on maintaining sterilization technologies’ cash generation, making selective growth investments and optimizing the medical isotope business.

Nordion plans to begin operating in the new business unit model on November 1, 2012, for the start of the company’s 2013 fiscal year. Nordion expects to continue to report financial results by its three business segments targeted therapies, sterilization technologies, and medical isotopes. Targeted Therapies will focus on TheraSphere while contract manufacturing is expected to be repositioned and reported under medical isotopes. The company’s segment reporting will incorporate the changes in the portfolios managed under each segment and comparative historic segment financial information is expected to be restated to align with these changes.

Nordion is a global health science company that provides products used for the prevention, diagnosis, and treatment of disease. The company is a leading provider of medical isotopes, targeted therapies, and sterilization technologies.

Related Links:




view channel
Image: Schematic representation of HIV DART binding to two distinct antigens simultaneously, redirecting the killer T-cells to destroy HIV-1 infected cells (Photo courtesy of Duke University).

Bi-Specific Antibodies Shown to Clear Latent HIV Infections

Bi-specific antibodies or DARTS (dual-affinity re-targeting proteins) have been used to eliminate latent HIV-infection from patient samples by redirecting polyclonal T-cells to specifically engage with... Read more

Drug Discovery

view channel
Image: Use of catchphrase terms like “breakthrough” and “promising” in public news media presenting new drugs tends to result in incorrect assumptions and conclusions about the meaning and significance of criteria for FDA breakthrough-designated and accelerated-approval drugs (Photo courtesy of Dartmouth Institute).

Words That Inappropriately Enhance Perception of New Drug’s Effectiveness

Researchers have found that using the words “breakthrough” and “promising” in presenting a new drug to the general public often has a dramatic effect on judgment about its effectiveness.... Read more

Lab Technologies

view channel

New Genomic Research Kit Simplifies Exome Studies

An exciting new tool is now available for biotech researchers working in the field of genomic analysis. The human exome is critical to our genetic make-up and is generally accepted as having the greatest influence on how the genetic blueprint is utilized. The exome is defined as all coding exons in the genome and is... Read more


view channel

Sale of Mexican Pharmaceutical Company Expected to Boost Latin American Prescription Drug Market

The sale of a major Mexican pharmaceutical company to an international generic drug corporation is expected to accelerate the growth of the Latin American market for prescription drugs. Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel) announced that it has entered into definitive agreements to buy Representaciones... Read more


17 Oct 2015 - 21 Oct 2015
25 Oct 2015 - 29 Oct 2015
16 Nov 2015 - 19 Nov 2015
Copyright © 2000-2015 Globetech Media. All rights reserved.