Telix Pharma to Buy ITM Isotope
Australia's Telix Pharma agreed to acquire Germany's ITM Isotope Technologies Munich for about 1.65 billion dollars to boost its radiopharmaceutical business. The deal expands its isotope supply chain and therapeutic pipeline.
TELIX PHARMACEUTICALS LTD agreed to acquire Germany-based ITM Isotope Technologies Munich SE for $1.65 billion on a cash- and debt-free basis. The deal expands the radiopharmaceutical portfolio of the Australia-based buyer through a combination of stock and contingent payments. Shareholders of ITM will receive $1.25 billion in Telix shares at $11.84 per share, alongside up to $700 million in milestone payments tied to regulatory approvals and sales targets.
The acquisition unites Telix's commercial reach with ITM's profitable isotope production operations and late-stage pipeline assets. ITM-11, a therapeutic candidate for gastroenteropancreatic neuroendocrine tumors, has already completed Phase 3 development and could deliver high-margin treatment sales upon commercial approval.
