England, Chalfont St. Giles, United Kingdom:
- Enables GE Healthcare to safe rising provide of iodine, a key ingredient for distinction media merchandise utilized in X-Ray and Computed Tomography (CT) imaging procedures
- Supports GE Healthcare’s broader dedication to handle future demand for iodinated distinction media and ship 30 million extra affected person doses yearly by 2025
- Investment plan additionally consists of opening this week a brand new manufacturing line at its Cork, Ireland, distinction media manufacturing facility
GE Healthcare’s Pharmaceutical Diagnostics business has introduced a long-term settlement with Chile-based mining firm, Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A), to safe its provide of iodine, a key ingredient for distinction media merchandise utilized in X-Ray and Computed Tomography (CT) procedures globally. The settlement will see SQM improve provide of iodine uncooked materials year-on-year and is a part of GE Healthcare’s broader dedication and funding plan to allow the manufacturing of 30 million extra affected person doses of iodinated distinction media yearly by 2025.
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Iodine prills – produced by SQM (Photo: Business Wire)
The rising international prevalence of continual problems has pushed important development in CT procedures, main to elevated international demand for iodinated distinction media, used to improve visualization of organs, blood vessels and tissues throughout medical care pathways. GE Healthcare can be investing in manufacturing capability to assist meet this rising demand, together with a brand new $30 million manufacturing line at its Cork, Ireland, distinction media manufacturing facility, which opens this week.
Kevin O’Neill, President and CEO, GE Healthcare Pharmaceutical Diagnostics, stated: “We expect global demand for iodinated contrast media to double in the next 10 years. As an industry leader, we understand our responsibility to help meet this growing demand from customers and patients by investing in production capacity and securing higher volumes of iodine raw material. As one of the largest consumers of iodine globally we value our longstanding relationship with SQM, an important partner for us.”
Pablo Altimiras, Executive Vice President of Iodine and Nitrates, SQM, stated: “We’re pleased to continue our relationship with GE Healthcare – a key customer for us for more than 40 years. As one of the largest producers of iodine worldwide with approximately 24 percent of our production used for X-ray contrast media, we are committed to the iodine industry and will continue to improve quality and increase capacity to ensure the reliability of supply, which is essential to so many sectors, including healthcare.”
GE Healthcare Pharmaceutical Diagnostics develops and manufactures imaging brokers used to assist over 100 million procedures per yr, equal to three affected person procedures each second. All phases of its distinction media manufacturing, from growth of API to completed product, are managed fully by GE Healthcare, adhering to present Good Manufacturing Practices (cGMP). With over 4000 workers globally and 7 manufacturing websites, the business additionally develops and provides radiopharmaceuticals used to assist prognosis, monitoring and therapy choice throughout Neurology, Cardiology and Oncology medical pathways.
About SQM:
SQM is a world firm that’s listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces various merchandise for a number of industries important for human progress, resembling well being, vitamin, renewable vitality and expertise by means of innovation and technological growth. We goal to keep our main world place within the lithium, potassium nitrate, iodine and thermo-solar salts markets.
About GE Healthcare:
GE Healthcare is the $17.7 billion healthcare business of GE (NYSE: GE). As a number one international medical expertise, pharmaceutical diagnostics and digital options innovator, GE Healthcare allows clinicians to make quicker, extra knowledgeable choices by means of clever gadgets, information analytics, functions and companies, supported by its Edison intelligence platform. With over 100 years of healthcare trade expertise and round 48,000 workers globally, the corporate operates on the heart of an ecosystem working towards precision well being, digitizing healthcare, serving to drive productiveness and enhance outcomes for sufferers, suppliers, well being techniques and researchers all over the world.
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