AstraZeneca finalises Aptium Oncology sale
9 July 2012 10:39 in Pharmaceutical Company Restructures
AstraZeneca has completed the sale of assets from its subsidiary company Aptium Oncology.
The pharmaceutical firm announced in its 2011 annual report that ownership of the five outpatient cancer centres managed by Aptium will be transferred to the US hospitals at which they are located.
This transferral has now been completed, as agreements were reached with each of the hospitals over the last few months.
AstraZeneca said Aptium generated revenues of $224 million (144.7 million pounds) last year and $43 million in 2012 before the completion of the disposals.
The five hospitals where Aptium provides outpatient oncology management and consulting services are located in California, Florida, New Jersey and New York.
According to the company, the completed disposal of assets will not have any impact on AstraZeneca's previously stated guidance for this year.
In April, the firm announced revenues of $7.3 million for the first quarter of 2012, down 11 percent at constant exchange rates compared with the same period last year.
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