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Monday, January 28, 2013

Medical isotope maker Nordion explores strategic alternatives, (NYSE: NDZ)

Nordion Inc , a major producer of medical isotopes, said it had begun a review of strategic alternatives as it struggles to find new raw material suppliers.The review comes almost four months after the company suspended its dividend as an arbitration panel rejected its claim for damages from its main supplier, state-owned Atomic Energy of Canada Ltd (AECL).Nordion, which has a market capitalization of C$398 million ($394.6 million), gets all of its raw material from AECL's reactor in Chalk River, Ontario.Nordion had hoped to force AECL to pay damages or complete two new reactors that were set to replace the aging Chalk River reactor.

Nordion Inc. (Nordion), formerly MDS Inc. is a global life sciences company that provides products and services for the prevention, diagnosis and treatment of disease. Shares of NDZ remained unchanged at $6.39. In the past year, the shares have traded as low as $5.51 and as high as $10.96. On average, 139495 shares of NDZ exchange hands on a given day and today's volume is recorded at 0.