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
Print article
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:


Print article



view channel
Image: Left: Green actin fibers create architecture of the cell. Right: With cytochalasin D added, actin fibers disband and reform in the nuclei (Photo courtesy of the University of North Carolina).

Actin in the Nucleus Triggers a Process That Directs Stem Cells to Mature into Bone

A team of cell biologists has discovered why treatment of mesenchymal stem cells (MSCs) with the mycotoxin cytochalasin D directs them to mature into bone cells (osteoblasts) rather than into fat cells... Read more


view channel

Molecular Light Shed on “Dark” Cellular Receptors

Scientists have created a new research tool to help find homes for orphan cell-surface receptors, toward better understanding of cell signaling, developing new therapeutics, and determining causes of drug side-effects. The approach may be broadly useful for discovering interactions of orphan receptors with endogenous, naturally... Read more

Lab Technologies

view channel
Image: The new ambr 15 fermentation micro-bioreactor system was designed to enhance microbial strain screening applications (Photo courtesy of Sartorius Stedim Biotech).

New Bioreactor System Streamlines Strain Screening and Culture

Biotechnology laboratories working with bacterial cultures will benefit from a new automated micro bioreactor system that was designed to enhance microbial strain screening processes. The Sartorius... Read more


view channel

Purchase of Biopharmaceutical Company Will Boost Development of Nitroxyl-Based Cardiovascular Disease Drugs

A major international biopharmaceutical company has announced the acquisition of a private biotech company that specializes in the development of drugs for treatment of cardiovascular disease. Bristol-Myers Squibb Co. (New York, NY, USA) has initiated the process to buy Cardioxyl Pharmaceuticals Inc. (Chapel Hill, NC, USA).... Read more
Copyright © 2000-2015 Globetech Media. All rights reserved.