Melbourne-based Telix Pharmaceuticals Ltd (ASX:TLX) is set to expand its manufacturing and distribution footprint in North America with the acquisition of RLS Inc – the only US radiopharmacy network which is Joint Commission-accredited.
The two companies have entered an agreement for Telix to take on RLS Inc from its parent company, RLS Group Ltd, in a move which will increase the former’s manufacturing footprint in North America, establishing a future radiometal production network to benefit the company and its strategic partners.
RLS holds 31 licensed radiopharmacies in major cities across the United States, so the acquisition will allow Telix to make use of these, developing a production and distribution network for key therapeutic and diagnostic isotopes alongside last-mile delivery of finished unit doses in relevant markets.
It is also expected that the acquisition will open the door to extensively deploy Telix’s ARTMS QUANTM Irradiation System™ (QIS™) cyclotron technology.
Managing director and group CEO Dr Christian Behrenbruch said the acquisition is part of Telix’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,” he said.
“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.”
Telix shares fell on the news. At 12:04 AEST, they were trading at $19.96 – a fall of 1.75% since the market opened.