Ion Beam Applications (IBA) and Eczacibasi-Monrol Nuclear Products are joining forces to grow the market for PET and SPECT radiopharmaceuticals in the Balkans, Middle East, North Africa, Central and Eastern Europe. A memorandum of understanding calls for IBA and Eczac?bas?-Monrol to join forces for the distribution and sales of IBA diagnostic and therapy SPECT radiopharmaceuticals and new molecules in PET radiopharmaceuticals.

IBA will appoint the Gebze, Turkey-based Eczacibasi-Monrol as the preferred partner for the local distribution of the IBA diagnostic and therapy SPECT radiopharmaceuticals and new molecules in PET radiopharmaceuticals, and to develop nuclear medicine in the Balkans, Middle East, North Africa, Central and Eastern Europe. Both companies will also work in cooperation in those regions on the operation of high-energy cyclotrons for diagnostics and therapy isotopes manufacturing.

Eczacibasi-Monrol plans to invest in three more PET radiopharmaceutical production centers on its own to complement its existing five cyclotrons network, which means that IBA's PET radiopharmaceuticals production and distribution network will be supported by a total of 52 facilities worldwide, according to the Louvain-la-Neuve, Belgium-based IBA.

IBA said it is not investing in the new Eczacibasi-Monrol facilities and will not contribute directly to its financial statement.