Nordion Restructures Russian Mo-99 Supply Relationship
Published: Oct 29, 2012
OTTAWA, Ontario--(BUSINESS WIRE)--Nordion Inc. (TSX: NDN) (NYSE: NDZ) announced today that it has been granted special permission by The Open Joint Stock Company “Isotope” (Isotope), the authorized subsidiary of Russia’s State Atomic Energy Corporation “Rosatom” (Rosatom), to enter into a negotiation directly with the Research Institute of Atomic Reactors (RIAR) for supply of Molybdenum-99 (Mo-99). Nordion and Isotope have jointly agreed that the current Mo-99 supply agreement structure was no longer appropriate and have terminated their Mo-99 supply agreement effective Oct. 26, 2012. The 2010 framework agreement with Isotope, to explore and define areas of collaboration for the supply, marketing and sale of isotopes produced in Russia is expected to remain in effect.