Market competitor news

Just had a bit of update re Lantheus and thought it might be worthwhile to start a new thread as there are often posts about this very topic

Uplift from Wilsons today

"Telix’s main competitor in the PSMA imaging market, Lantheus (NASDAQ: LNTH), has reported 3Q24 PYLARIFY sales of US$259.8M (+20.6% v pcp but a 5% miss versus WILSe US$274,5M). 3Q24 sales were also 5% lower than 2Q24 (US$273.3M) as Lantheus sought longer term, strategic partnerships to secure PYLARIFY’s market leadership position, before its transitional pass-through (TPT) status expires in January. As a reminder, the scheduled payment rate for PYLARIFY in 2025 is not materially different from its current pricing, consistent with CMS’ recently published Final Rule (and ‘addendum B’). Other factors contributing to Lantheus’ PYLARIFY miss included seasonality (exacerbated by fewer trading days v pcp), and intentional trade-offs owing to product availability issues. We assess direct (if modest) share losses to ILLUCCIX also contributed. Separately, Lantheus also updated on its PNT2002 clinical program (the SPLASH Phase III investigating 177Lu-PSMA-I&T in pre-chemo mCRPC patients). A second interim analysis at 75% of the trial’s pre-specified overall survival (OS) endpoints has seen no material improvement in radiographic progression free survival rPFS) or OS endpoints. Whilst SPLASH has met its primary rPFS endpoint, the vast crossover rate in the study (where control patients were offered study drug after disease progression on the control regimen) has left the OS endpoint confounded (on an ITT basis). The regulatory future for PNT2002 therefore remains uncertain."