Curium reportedly closing in on deal to buy radiopharma rival Lantheus for $7B
Curium is reportedly in advanced discussions to acquire rival radiopharmaceutical developer Lantheus for $7 billion.
Bloomberg first reported news of the dealmaking on Monday, citing unnamed sources with knowledge of the transaction. Boston-based Curium, backed by private equity firm CapVest Partners, is reportedly expected to pay $102 per share upfront with an additional $12.50 in “contingent value rights.”
If consummated, the deal would value Lantheus at $7 billion—or $8 billion when factoring in the CVR—typically a financial promise to shareholders based on certain financial milestones.
Bloomberg emphasized that a final decision has not yet been reached and there is no guarantee the deal will come together, though it speculated an announcement could be made in the coming days. CapVest, Curium and Lantheus all declined to comment to the outlet.
Previously, Bloomberg reported in May that Lantheus was weighing a potential sale after being approached by Curium. Based in Bedford, Massachusetts, Lantheus has faced business challenges in recent months. A class-action filed last year claimed the company misled investors about the market position of its blockbuster product Pylarify, a targeted PET imaging agent for prostate cancer. Lantheus also received word in March that the U.S. Food and Drug Administration was pushing back its review of a new PET product targeted toward neuroendorcrine tumors. The company’s stock was down 2% following news of the potential deal on July 27.
Meanwhile, in other news, Curium announced Monday it is reintroducing its cardiac nuclear imaging radiotracer chloride TI 201 (thallium-201) to the U.S. market. The single-photon emission computed tomography (SPECT) tracer ceased production in 2022. It is being reintroduced due to repeated shortages of the primary cardiac SPECT tracer technetium-99m (Tc-99m), and some patients being better suited for thallium exams.
You can read more about the update from our sister news site, Cardiovascular Business.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.