bullish
Telix Pharmaceuticals (TLX AU): Illuccix Continues to Drive Growth in 1H24; More Products to Come
495 Views27 Aug 2024 00:41
Boomeranged on Tue, 24 Sep 2024 12:56
Telix Pharmaceuticals is acquiring Florida-based RLS Radiopharmacies for $250M. With the acquisition, Telix gets access to RLS’s network of 31 radiopharmacies spread out over 18 U.S. states, thereby expanding Telix’s footprint. The acquisition is expected to close in 1Q25. This is Telix’s third acquisition this year.
SUMMARY
- Telix Pharmaceuticals (TLX AU) announced 65% YoY revenue growth to A$364M and reversed a loss with A$29.7M net profit in 1H24.
- The U.S. sales from Illuccix was the main driver with a 64% YoY increase in revenue to A$359M (~$243M), reflecting continued growth in sales volume and market share gains.
- Telix reaffirms its full year 2024 revenue guidance of $490–$510M (A$745–776M), up 48–54% YoY. R&D expenditure guidance for 2024 remains at 40–50% increase on 2023.
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Tina Banerjee
Global Healthcare Analyst
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