Telix Pharmaceuticals (ASX:TLX) has announced it will acquire America's only joint commission-accredited radiopharmacy network distributing PET1, SPECT2 and therapeutic radiopharmaceuticals.
Telix said the US$230 million acquisition significantly expands its North American manufacturing footprint and establishes the basis of a next-generation radiometal production network.
The Australian company is investing in creating a vertically integrated supply chain, manufacturing, and distribution network. It said it would leverage RLS' 31 licensed radiopharmacies in major metropolitan areas across the US to build a radiometal production and distribution network for critical therapeutic and diagnostic isotopes alongside last-mile delivery of finished unit doses in relevant markets.
The RLS footprint includes over 100,000 square feet of appropriately licensed expansion space that can be utilised to meet rapidly growing production demand.
RLS's revenue for the most recent financial year wasUS$158 million. Telix said the transaction is expected to be cost-neutral from an operating cash flow perspective. RLS is currently a distributor of Telix's Illuccix.
Telix managing director and group CEO Dr Christian Behrenbruch said the acquisition is part of the company's ongoing investment focus around vertical integration and building integrated supply chains.
"Our vision is to build a radiometal production and distribution network fit for the future. By combining the ARTMS platform and the RLS network, we can scale up the production of key isotopes and build a stable and consistent supply of PET and SPECT diagnostic tracers, along with therapeutic radiopharmaceuticals across the U.S. for the benefit of Telix, our partners and the patients we serve. Telix is a trusted brand, recognised for our technical expertise, product quality, scheduling flexibility and delivery reliability. As we grow and commercialise new products, this investment ensures we can continue to deliver to this standard, alongside our key trusted distribution partners."
