Navigation Links
MDS Commences Arbitration against AECL over Cancelled MAPLE Project and Files $1.6 Billion Court Claim against AECL and the Government of Canada
Date:7/9/2008

TORONTO, July 9 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, today announced that it has served Atomic Energy of Canada Limited (AECL) with notice of arbitration proceedings. MDS will be seeking an order to compel AECL to fulfill its contractual obligations under its 2006 interim and long-term supply agreement (ILTSA) and if not granted, seeking significant monetary damages. MDS has concurrently filed a court claim for $1.6 billion in damages against AECL, for negligence and breach of contract, and against the Government of Canada, for inducing breach of contract and for interference with economic relations.

"We have had to resort to taking these steps to protect the interests of patients, the nuclear medicine community, our shareholders and our customers," said Stephen P. DeFalco, President and CEO, MDS Inc. "We are disappointed that AECL and the Government decided to abandon the MAPLE project without establishing a clear plan for the long-term supply of critical medical isotopes."

MDS's primary objective through the legal proceedings is to have AECL honour its long standing commitment to replace the National Research Universal (NRU) reactor by bringing the MAPLE reactors into service, and provide a 40-year supply of medical isotopes, required by patients worldwide for serious medical needs.

In 1996, MDS entered into an agreement with AECL for the design, development and construction of two new nuclear reactors and a processing facility, known as the MAPLE project. The project was intended to replace AECL's NRU reactor, which produces approximately 50 per cent of the world's medical isotopes. AECL agreed to provide interim supply of medical isotopes from NRU until the MAPLE project was operational. The MAPLE project was to be completed by the year 2000 at a planned cost to MDS of $145 million.

By 2005, the project was not yet completed and
'/>"/>

SOURCE MDS Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine news :

1. Sun Pharma Commences All Cash Tender Offer to Purchase Taro Ordinary Shares for USD 7.75 Per Share
2. uKarma Corporation Commences International Distribution Agreement With Northern Response for its Xflowsion DVD Series
3. UltraShape(R) Commences Pivotal Study for First Non-Invasive Fat Reduction and Body Contouring Device Using Non-Thermal Selective Focused Ultrasound
4. China Sky One Medical, Inc. Commences Trading on the American Stock Exchange
5. Takeda Commences Cash Tender Offer for all Outstanding Shares of Millennium
6. SXC Health Solutions Corp. Commences Exchange Offer For Shares Of National Medical Health Card Systems, Inc.
7. Reckitt Benckiser Commences Cash Tender Offer for All Outstanding Shares of Adams Respiratory Therapeutics
8. Cytopia Commences Phase II Cancer Drug Study
9. Amarin Commences First Clinical Trial in Cardiovascular ProgramAmarin Commences First Clinical Trial in Cardiovascular Program
10. American Physicians Capital, Inc. Completes $15 Million Authorization and Commences $20 Million Authorization Under Stock Repurchase Program
11. Milestone Scientific Commences Declaratory Judgment Action With Respect to Its Single Tooth Anesthesia (STA(TM)) System and Compudent(TM) System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/17/2014)... 2014 For electronic publishing expert eBooks2go, ... down to a miraculous connection and precision timing. This ... while, but over the past three decades, Ms. Wixom ... was finding it rather tedious to expand her readership ... A phone call, an anniversary, and a second-place trophy ...
(Date:9/17/2014)... Wa (PRWEB) September 17, 2014 Diabetes ... by the Telegraph in August 2014, scientists made ... for diabetes, but still failed. The article indicates that ... Despite this existing fact, there are many forward-thinking entrepreneurs ... diabetes treatment in a natural way. Dr. Kenneth Pullman ...
(Date:9/17/2014)... ICS Learning Group, Inc. won a coveted ... for the Best Use of Games and Simulations for ... operational safety training module that ICS developed for one ... an approach that combined realistic 3D simulation with gamification, ... to a video game, including competition among trainees, to ...
(Date:9/17/2014)... (PRWEB) September 17, 2014 Health.Verticalize, a ... people explore their health insurance options in the 2014 ... Network. , Moving forward Health Network ... website. The company has intentionally remained out of the ... network from a single website to its present position ...
(Date:9/16/2014)... Recently, BamboofloorChina.com, the popular online supplier ... of strand woven bamboo floors to its ... big promotion for the new items; the current discount ... is a great shopping season. Therefore, BamboofloorChina.com spares no ... new customers. All practical items offered by BamboofloorChina.com are ...
Breaking Medicine News(10 mins):Health News:Versatile Author Wixom Forges Lasting Relationship with Digital Virtuoso eBooks2go 2Health News:Versatile Author Wixom Forges Lasting Relationship with Digital Virtuoso eBooks2go 3Health News:Versatile Author Wixom Forges Lasting Relationship with Digital Virtuoso eBooks2go 4Health News:Discover a Safe and Effective Treatment for Diabetes with The Diabetes Protocol – Vinamy 2Health News:ICS Learning Group Wins Gold in the 2014 Brandon Hall Excellence Competition for Best Use of Games and Simulations for Learning 2Health News:Health.Verticalize Rebrands as Health Network After Growing to 15 Million Users in Less Than One Year 2Health News:Health.Verticalize Rebrands as Health Network After Growing to 15 Million Users in Less Than One Year 3Health News:BamboofloorChina.com Announces Its Promotion For Strand Woven Bamboo Floors 2
... , EMERYVILLE, Calif., Sept. 21 Bionovo, Inc. (Nasdaq: ... the company received a letter from NASDAQ stating that, for the ... stock has closed below the minimum $1.00 per share requirement for ... that the company has been provided a period of 180 calendar ...
... , , , ... Medical, Inc. has made a $15 million equity investment in the company. ... officer of Micell, said, "We are excited to have a company of ... forward to collaborating with them to expand the use of our coating ...
... , , BELMONT, Calif., ... focused on improving the lives of patients with sleep-disordered breathing, ... the Runners-Up Award in The Wall Street Journal ... were published in the September 14, 2009 edition of ...
... results seen with both open surgery and minimally invasive ... -- Successful repair of nasal fractures is possible using ... long as the procedure is appropriate for the type ... be selected by taking into account factors such as ...
... American Gastroenterological Association (AGA) Foundation for Digestive Health and ... businessman and photographer, Bernard Lee Schwartz, has honored his ... for pancreatic cancer research. The $225,000 gift from the ... with funding and protected time for three years to ...
... A multicenter study in Asia found drug-eluting stents ... patients with chronic total occlusions (CTOs) undergoing PCI. Results ... annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, sponsored by ... the study, "Drug-Eluting Stents for the Treatment of Chronic ...
Cached Medicine News:Health News:Bionovo Notified by NASDAQ of Minimum Bid Price Deficiency 2Health News:Bionovo Notified by NASDAQ of Minimum Bid Price Deficiency 3Health News:Ventus Medical Announces PROVENT(R) Sleep Apnea Therapy Recognized by The Wall Street Journal 2009 Technology Innovation Awards 2Health News:Ventus Medical Announces PROVENT(R) Sleep Apnea Therapy Recognized by The Wall Street Journal 2009 Technology Innovation Awards 3Health News:Best Option for Fractured Nose Varies by Patient 2Health News:California family honors father with second AGA Foundation Research Scholar Award 2Health News:Drug-eluting stents safe, effective for treatment of chronic total occlusions 2
(Date:9/16/2014)... -- Chairman and CEO Bernard J. Tyson announced ... the role of interim chief information officer (CIO) for ... "Kaiser Permanente is a recognized leader ... high-quality care and service we provide to our 9.5 ... extensive experience in information technology. I am confident that ...
(Date:9/16/2014)... Kan. , Sept. 16, 2014  Aratana ... pet therapeutics company focused on licensing, developing and ... announced that it is commencing an underwritten registered ... All of the shares are being offered by ... Barclays are acting as joint book-running managers for ...
(Date:9/16/2014)... Sept. 16, 2014 Adaptive Biotechnologies, a clinical ... to profile the adaptive immune system, is pleased to ... Chief Commercial Officer (CCO). The addition of Brain to ... hires from leading global healthcare companies, including Dean ... Counsel) from Genomic Health and Sean Nolan ...
Breaking Medicine Technology:Kaiser Foundation Health Plan, Inc. and Kaiser Foundation Hospitals Name Interim Chief Information Officer 2Aratana Therapeutics, Inc. Announces Proposed Public Offering 2Veteran Genoptix and Gen-Probe Executive, Brian Hansen, joins Adaptive Biotechnologies as Chief Commercial Officer 2Veteran Genoptix and Gen-Probe Executive, Brian Hansen, joins Adaptive Biotechnologies as Chief Commercial Officer 3
... , INDIANAPOLIS, Dec. 7 Roche Diagnostics ... center in Pleasanton, California, as part of an initiative to ... and independent laboratories on the west and east coasts. Roche ... and is planning to open an additional facility in New ...
... , SILVER SPRING, Md., Dec. 7 ... of excess radiation during CT perfusion imaging of the ... imaging facilities and practitioners with interim recommendations to help ... issued an initial safety notification in October after learning ...
Cached Medicine Technology:Roche Diagnostics Opens State-of-the-Art Training Center in California 2FDA Makes Interim Recommendations to Address Concern of Excess Radiation Exposure during CT Perfusion Imaging 2FDA Makes Interim Recommendations to Address Concern of Excess Radiation Exposure during CT Perfusion Imaging 3
... thin collagen coated highly compliant ... thin wall construction offers optimal ... Hemacarotid UltraThin Patch provides superb ... and healing, without suture hole ...
The VasoSeal Low Profile device is designed for smaller sheath angiography procedures. VasoSeal Low Profile. Seal your arterial punctures with confidence....
D-Stat Radial is a dry version of the D-Stat together with a compression band, and is designed for the control of surface bleeding from vascular access sites, including the sites on the radial artery...
... engineered to close arteriotomies with ease ... with a simple trigger actvated mechanism, ... deliver sheath gently locks onto the ... the site before, during, and after ...
Medicine Products: