MDS to sell late-stage operations to INC Research
Canadian health sciences company MDS has begun its previously- announced refocusing of its pharmaceuitcal services division with the sale of part of its late-stage development operations to INC Research. The deal, which was announced on June 1, sees the Toronto-based organization unload its Phase II-IV operations for a fee of C$50.0 million ($46.0 million) as part of an effort to focus on its early-stage operations. MDS chief executive Stephen DeFalco said the firm had made the move in order to focus on its "core competencies." The transaction is expected to close in the third quarter of the year. Shares in the firm rose 2% to C$5.50 in early trading on the day of the announcement.
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