Telix announces acquisition of ITM in radioisotope merger
Telix Pharmaceuticals has agreed to acquire 100% of ITM for US$1.65 billion upfront on a cash-free/debt-free basis, with about US$1.25 billion in Telix shares to ITM shareholders after adjustments and up to US$700 million in milestone payments. ITM reported US$273 million revenue in 2025 and a 40% CAGR from 2021–2025. The companies project pro forma combined revenue above US$1.3 billion for 2026 and expect the combined group to generate positive EBITDA from 2027. The transaction remains subject to shareholder and regulatory approval, with closing expected by the end of FY2026.
Combined group projected revenue exceeds US$1.3 billion in 2026
Context
Telix announced a strategic agreement to buy ITM, a radioisotope producer. The deal combines drug development and isotope manufacturing. Next steps include shareholder and regulatory approvals and the planned closing by end of FY2026.
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