Britain's BTG said it would create an interventional medicine business with potential sales of $1 billion by making two acquisitions.
The British pharmaceutical company announced that it reached agreement to purchase the targeted therapies divisions of Nordion Inc. in a $200 million deal, adding Therasphere radioactive glass beads treatment for liver cancer to its chemotherapy beads unit.
BTG is also negotiating to buy EKOS Corp. for an initial $180 million in future payments to acquire interventional treatment for severe blood clots.
It said that some of the cost used to purchase Nordion would come from the placing of 32.8 million shares, which represent just below 10 percent of its capital.
Louise Makin, BTG's chief executive, said that the deals would position the company as a leading player in the rapidly growing market of interventional medicine. He expects that they are going to have important products for interventional cardiologists, interventional radiologists and vascular surgeons.
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