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Radio Pharmaceuticals Market 2019 | Develop Rapidly by Top Players Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Curium Pharma, Life Molecular Imaging, Lantheus Holdings, Inc., Cardinal Health, Inc., General Electric Company, Bracc

06-10-2019 08:46 AM CET | Health & Medicine

Press release from: Coherent Market Insights (CMI)

Radio Pharmaceuticals

Radio Pharmaceuticals

Factors such as approval of products such as Lutathera, a potential blockbuster drug (Advanced Accelerator Applications, 2018) and Axumin (2016, Blue Earth Diagnostics) has propelled global radiopharmaceuticals in nuclear medicine market growth. Newer trends such as increasing therapeutic applications of radiopharmaceuticals and radiolabeling of monoclonal antibodies are expected to support growth of the market.

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Subsequently, as the need for early diagnosis of diseases such as cancer and accurate diagnosis of diseases such as Alzheimer's has become more necessary (certain products have come close to this such as Amyvid and Vizamyl) radiopharmaceuticals are expected to find an even strong foothold in medical care.

In March 2019, NorthStar Medical Radioisotopes, LLC signed a contract with Ion Beam Applications S.A. (IBA) to purchase eight Rhodotron TT300 HE electron beam accelerators to expand the U.S. production of non-uranium based radioisotope Mo-99. In January 2019, Progenics Pharmaceuticals, Inc. and Curium Pharma entered into an agreement to develop and commercialize PyL in Europe. PyL is Progenics’ PSMA-targeted small molecule PET/CT imaging agent, designed to visualize prostate cancer currently in Phase 3 development.

Moreover, in 2018, Advanced Accelerator Applications S.A. entered into an exclusive worldwide license agreement with Cancer Targeted Technology, LLC (CTT) to develop and market an investigational new drug product, F-18-labeled CTT1057. Such collaborations and partnerships are expected to support the global radiopharmaceuticals in nuclear medicine market growth over the forecast period.

In February 2019, Progenics Pharmaceuticals, Inc. acquired the manufacturing facility in Somerset, New Jersey for AZEDRA. This Somerset site serves as a launch facility for AZEDRA and will also provide manufacturing support for the company’s development stage radiopharmaceuticals. In August 2018, Alliance Medical Group (a Division of Life Healthcare Group) acquired Piramal Imaging and renamed it as Life Molecular Imaging (LMI). LMI is now part of the Alliance Medical Molecular Imaging division, an integrated business including research and development laboratories, a network of cyclotrons, radio pharmacies, and imaging facilities.

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Moreover, in May 2018, Curium enhanced its position in the France PET market with the acquisition of France-based commercial and manufacturing operations of Cyclopharma, developer and manufacturer of PET diagnostics.

Some major players operating in the global radiopharmaceuticals in nuclear medicine market include Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Curium Pharma, Life Molecular Imaging, Lantheus Holdings, Inc., Cardinal Health, Inc., General Electric Company, Bracco S.p.A., Bayer AG, Advanced Accelerator Applications, S.A., and Eli Lilly and Company.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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