Centocor diagnostics/imaging news

CNTO said it is evaluating strategic options for its Centocor Diagnostics subsidiary, including possible sale of the business, in order to focus on its pharmaceutical business. Centocor Diagnostics, which sells monoclonal antibody-based diagnostics primarily for oncology and cardiovascular disease, posted 1997 sales of $31.8 million. CNTO took a $6 million restructuring charge in the first quarter related to restructuring of the subsidiary (B13). In December, the subsidiary postponed an IPO to raise up to $40 million, citing market conditions. CNTO said it is not considering an IPO for the subsidiary as a strategic option. ...