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BEDFORD, Mass. - Lantheus Holdings, Inc. (NASDAQ: LNTH), a leader in the radiopharmaceutical industry, announced today the completion of its acquisition of Evergreen Theragnostics, Inc., a clinical-stage company specializing in radiopharmaceuticals. The acquisition, initially disclosed on January 28, 2025, includes Evergreen’s OCTEVY™, a PET diagnostic imaging agent in registration stage for neuroendocrine tumors, and a portfolio of clinical and pre-clinical theranostic pairs. The company, currently valued at $6.7 billion, has demonstrated strong financial performance with an impressive 18.32% revenue growth in the last twelve months. According to InvestingPro analysis, Lantheus maintains an excellent financial health score, supported by strong liquidity and moderate debt levels.
The deal also enhances Lantheus’s capabilities by adding Evergreen’s radioligand therapy manufacturing infrastructure and a contract development and manufacturing organization (CDMO) business. "Today marks a significant milestone in our journey to expand our radiopharmaceutical leadership and we’re excited to welcome Evergreen’s talented team to Lantheus," said Brian Markison, CEO of Lantheus. The company’s robust financial position is evidenced by its healthy gross profit margin of 64.43% and strong cash flows that adequately cover interest payments. InvestingPro subscribers can access 12 additional key insights about Lantheus’s financial health and growth prospects.
The strategic move aims to strengthen Lantheus’s position in the market by combining its therapeutic candidate PNT2003 with Evergreen’s OCTEVY™, potentially creating a powerful theranostic pair for oncology. The acquisition is also expected to improve the company’s manufacturing and commercialization capabilities for radiopharmaceuticals.
Lantheus, headquartered in Massachusetts, has been a provider of radiopharmaceutical solutions for over 65 years and operates additional offices in New Jersey, Canada, and Sweden. Evergreen Theragnostics, founded in 2019, is based in Springfield, NJ, and operates a state-of-the-art GMP radiopharmaceutical facility.
The forward-looking statements in the press release, which discuss the potential benefits and results of the acquisition, are subject to risks and uncertainties. These include the possibility of integration challenges, regulatory hurdles, and the need for further clinical success of the products involved. Lantheus has made no commitment to update any forward-looking statements, and the actual results could differ materially from those projected.
This expansion by Lantheus demonstrates the company’s commitment to advancing radiopharmaceutical science and improving patient outcomes in the field of oncology. The acquisition is based on a press release statement and aims to meet the growing demands of the radiopharmaceutical market. With five analysts recently revising their earnings estimates upward and a strong consensus recommendation, the company’s growth trajectory appears promising. Detailed analysis and comprehensive research reports are available through InvestingPro, offering investors deeper insights into Lantheus’s market position and future potential.
In other recent news, Lantheus Holdings reported its fourth-quarter 2024 earnings, surpassing analyst expectations. The company achieved earnings per share of $1.59, exceeding the forecast of $1.55, and reported revenue of $391.1 million, which was above the anticipated $377.24 million. Lantheus’ flagship product, Polarify, contributed significantly to this revenue growth, with sales reaching $1.058 billion for the year, marking a 24.3% increase. The company also provided a 2025 revenue forecast ranging from $1.545 billion to $1.610 billion, indicating a potential growth of 1-5%.
Additionally, Mizuho Securities adjusted its financial outlook on Lantheus, lowering the price target from $150.00 to $140.00 while maintaining an Outperform rating. This adjustment followed Lantheus’ earnings report and an updated market forecast for its product, PYLARIFY, suggesting a $3.5 billion market potential by 2030. Lantheus also announced strategic acquisitions of Life Molecular Imaging and Evergreen Medical Services, which are expected to enhance its capabilities in Alzheimer’s diagnostics and oncology therapeutics. These transactions are anticipated to close in the second half of the year, potentially driving sustained double-digit revenue growth starting in 2026.
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