olivLaw · US equity research
Lantheus Holdings, Inc. LNTH
In Vitro & In Vivo Diagnostic Substances · SIC 2835 · Vertical: In Vitro & In Vivo Diagnostic Substances (SIC 2835)
Lantheus is a radiopharmaceutical-focused company that helps clinicians find, fight and follow disease, most notably prostate cancer with PYLARIFY. The company is now in a transition period, with a merger with Curium announced in August 2026 valued at up to [8.0] billion dollars.
At the close of 04 Nov 2026, Lantheus Holdings, Inc. (LNTH) stock was 101.14 USD (+0.34% on the day), with market capitalisation 6.6 bn USD, P/E 24.5 on diluted EPS of 4.13 USD over the last 12 months, beta 0.38, 52-week range 50.69–110.94 USD. Latest reported quarter (Q2 2026): revenue of 388.2 m USD (+2.7% YoY), net income of 75.0 m USD (−4.7% YoY), diluted EPS 1.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 65.1
- strong (55–70)
- Bollinger (20, 2)
- 99.54 – 100.83
- above the upper band · %B 1.24 · band width 1.3%
- SMA 50 / 200
- 100.27 / 91.91
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.12 / -0.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.9% | −1.1% | +2.0 pp | — |
| 3 months | −0.4% | −0.5% | +0.1 pp | — |
| 6 months | +17.4% | +4.4% | +13.0 pp | — |
| Year to date | +52.0% | +12.3% | +39.7 pp | — |
| 1 year | +75.3% | +13.5% | +61.7 pp | −26.8% |
| 3 years | +57.2% | +76.4% | −19.2 pp | −63.5% |
| 5 years | +249.7% | +63.7% | +186.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 378.7 m | 391.1 m | 372.8 m | 378.0 m | 384.0 m | 406.8 m | 377.3 m | 388.2 m |
| Cost of revenue | 136.6 m | 142.6 m | 135.1 m | 137.0 m | 161.6 m | 165.9 m | 146.4 m | 146.3 m |
| Gross profit | 242.1 m | 248.5 m | 237.7 m | 241.0 m | 222.4 m | 240.9 m | 230.9 m | 241.9 m |
| Research & development | 24.1 m | 35.3 m | 36.3 m | 45.5 m | 48.0 m | 47.5 m | 39.4 m | 38.2 m |
| Operating income | 133.7 m | 113.9 m | 102.1 m | 88.0 m | 43.6 m | 77.2 m | 81.3 m | 100.2 m |
| Depreciation & amortisation | 17.1 m ≈ | 17.3 m | 13.6 m | 13.2 m ≈ | 20.4 m ≈ | 22.8 m | 22.7 m | 22.6 m ≈ |
| Interest expense | 4.9 m | 5.0 m | 4.8 m | 4.9 m | 5.0 m | 5.1 m | 4.9 m | 4.9 m |
| Pre-tax income | 176.1 m | -783.0 k | 96.5 m | 104.5 m | 42.4 m | 70.4 m | 156.4 m | 93.8 m |
| Income tax | 45.0 m | 11.0 m | 23.6 m | 25.8 m | 14.6 m | 16.3 m | 38.0 m | 18.8 m |
| Net income | 131.1 m | -11.8 m | 72.9 m | 78.8 m | 27.8 m | 54.1 m | 118.4 m | 75.0 m |
| Diluted EPS | 1.79 | -0.16 ≈ | 1.02 | 1.12 | 0.41 | 0.81 ≈ | 1.80 | 1.11 |
| Operating cash flow | 175.1 m ≈ | 157.7 m | 107.6 m | 87.1 m ≈ | 105.3 m ≈ | 90.2 m | 125.1 m | 92.2 m ≈ |
| Share repurchases | 0 ≈ | 100.0 m | — | — | 100.0 m ≈ | 100.0 m | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 59 percentile of its own 32-quarter history (min 4.6, median 21.6, max 181.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 343.4 m | 347.3 m | 339.4 m | 425.2 m | 935.1 m | 1.3 bn | 1.5 bn | 1.5 bn |
| Revenue YoY | +3.6% | +1.2% | −2.3% | +25.3% | +119.9% | +38.6% | +18.3% | +0.5% |
| Net income | 40.5 m | 31.7 m | -13.5 m | -71.3 m | 28.1 m | 326.7 m | 312.4 m | 233.6 m |
| Net income YoY | −67.2% | −21.8% | −142.5% | unavailable | unavailable | +1,063.9% | −4.4% | −25.2% |
| Diluted EPS | 1.03 | 0.79 | -0.25 | -1.06 | 0.40 | 4.65 | 4.36 | 3.41 |
| Diluted EPS YoY | −67.5% | −23.3% | −131.6% | unavailable | unavailable | +1,062.5% | −6.2% | −21.8% |
| net % | 11.8% | 9.1% | -4.0% | -16.8% | 3.0% | 25.2% | 20.4% | 15.2% |
| Free cash flow | 41.1 m | 58.3 m | 16.4 m | 53.9 m | 21.8 m | 259.9 m | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 359.1 m USD
- Financial debt
- 738.0 k USD
- Net debt
- -358.4 m USD
- Equity
- 1.1 bn USD
- Total assets
- 2.2 bn USD
- Debt / equity
- 0.00x
- Current ratio
- 2.70x
- ROE
- 21.4%
- ROA
- 11.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 339.4 m | 425.2 m | 935.1 m | 1.3 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 200.6 m | 237.5 m | 353.4 m | 586.9 m | 545.6 m | 599.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 138.8 m | 187.7 m | 581.7 m | 709.5 m | 988.3 m | 942.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Research & development | 32.8 m | 45.0 m | 311.7 m | 77.7 m | 168.1 m | 177.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | -4.2 m | -60.8 m | 36.2 m | 364.6 m | 457.0 m | 310.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 23.3 m | 42.3 m | 47.9 m | 60.0 m | 64.6 m | 70.1 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 19.1 m ≈ | -18.5 m ≈ | 84.1 m ≈ | 424.7 m ≈ | 521.6 m ≈ | 380.9 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 9.5 m | 7.8 m | 7.2 m | 20.0 m | 19.7 m | 19.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | -11.5 m | -75.0 m | 26.7 m | 410.9 m | 431.0 m | 313.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 2.0 m | -3.8 m | -1.3 m | 84.3 m | 118.5 m | 80.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -13.5 m | -71.3 m | 28.1 m | 326.7 m | 312.4 m | 233.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -0.25 | -1.06 | 0.40 | 4.65 | 4.36 | 3.41 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 54.1 m | 67.5 m | 70.7 m | 70.2 m | 71.7 m | 68.4 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 79.6 m | 98.5 m | 415.7 m | 713.7 m | 912.8 m | 359.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 54.0 m | 89.3 m | 213.4 m | 284.3 m | 321.3 m | 358.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 35.7 m | 35.1 m | 35.5 m | 64.0 m | 68.0 m | 64.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 184.2 m | 235.8 m | 677.6 m | 1.1 bn | 1.3 bn | 900.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 120.2 m | 116.8 m | 122.2 m | 146.7 m | 176.8 m | 163.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 58.6 m | 61.2 m | 61.2 m | 61.2 m | 61.2 m | 239.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 376.0 m | 348.5 m | 315.3 m | 152.0 m | 161.8 m | 722.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 869.8 m | 863.8 m | 1.3 bn | 1.7 bn | 2.0 bn | 2.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 16.3 m | 20.8 m | 20.6 m | 41.2 m | 34.6 m | 42.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 20.7 m | 11.6 m | 354.0 k | 823.0 k | 974.0 k | 738.0 k | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 197.7 m | 163.1 m | 557.7 m | — | — | — | SEC (XBRL)· 23 Feb 2023verified |
| Current liabilities | 80.5 m | 90.5 m | 247.7 m | 187.4 m | 240.5 m | 333.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 355.6 m | 399.3 m | 874.1 m | 835.3 m | 892.3 m | 1.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 514.2 m † | 464.4 m † | 447.1 m † | 815.9 m † | 1.1 bn † | 1.1 bn † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 16.4 m | 53.9 m | 281.8 m | 305.3 m | 544.8 m | 390.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 0 | 0 | 260.0 m | 45.3 m | — | — | SEC (XBRL)· 22 Feb 2024verified |
| Free cash flow | 16.4 m ≈ | 53.9 m ≈ | 21.8 m ≈ | 259.9 m ≈ | — | — | SEC (XBRL)· 22 Feb 2024derived |
| Investing cash flow | -4.9 m | 3.7 m | -276.5 m | 5.9 m | -226.0 m | -627.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -21.9 m | -39.3 m | 311.7 m | -13.1 m | -118.5 m | -316.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 0 | 0 | 75.0 m | 0 | 100.0 m | 300.0 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 70 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 6.6 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Growth100
- Quality85
- Returns43
- Valuation13
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 81.53 – 214.46 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA81.53 – 214.46 (Mid 153.00)4 companies used · median multiple 24.0x · quartiles 12.1x – 34.3xICCC, IDXX, NEOG, QDEL
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 70/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 38.5% | 83 (vs peers) | 13% |
| Net margin · Quality | 17.7% | 87 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 18.1% | 100 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | 104.3% | 100 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | -1.5x | 100 (on a fixed band) | 13% |
| Interest coverage · Balance sheet | 15.3x | 100 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 3.1x | 100 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 24.5x | 25 (on a fixed band) | 13% |
| EV/EBITDA · Valuation | 15.4x | 0 (on a fixed band) | 13% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.0% | 43 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 3/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality85/100 · 2/3 factors with a value
- Returns· partial43/100 · 1/2 factors with a value
- Valuation13/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Lantheus Holdings, Inc. (LNTH). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.5 bn USD in 2025; YoY growth 0.5%; net margin 17.7%; ROE 22.2%; net debt/EBITDA -1.5x.
The estimated value range is 81.53–214.46 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 153.00 USD, the price of 101.14 USD leaves a potential of 51.3% (value / price − 1) and a margin of safety of 33.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 70/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 38.5%
- Net margin: 17.7%
- Revenue CAGR 3Y: 18.1%
- EPS CAGR 3Y: 104.3%
- Net debt / EBITDA: -1.5x
- Interest coverage: 15.3x
- Current ratio: 3.1x
What contradicts it
- P/E (TTM): 24.5x
- EV/EBITDA: 15.4x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, FCF yield, Payout ratio (FCF).
Versus the vertical median
In Vitro & In Vivo Diagnostic Substances (SIC 2835) · same industry (4-digit SIC) · compared with 17 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| IDXXIdexx Laboratories Inc | 55.0 bn | 47.1 | 68.9% | 25.4% | +10.4% | −7% / +50% |
| LNTHLantheus Holdings, Inc. | 6.6 bn | 24.5 | 22.2% | 17.7% | +0.5% | +75% / +57% |
| NEOGNeogen Corporation | 2.7 bn | — | -2.7% | -6.3% | −2.7% | +108% / −27% |
| TRIBTrinity Biotech PLC | 2.4 bn | — | — | -51.6% | +8.3% | −80% / −91% |
| CLDXCelldex Therapeutics, Inc. | 2.4 bn | — | -43.9% | -190,220.9% | −78.0% | +11% / −1% |
| NTLAIntellia Therapeutics, Inc. | 1.7 bn | — | -6,424.8% | -672.2% | +16.9% | +37% / −58% |
| QDELQuidelortho Corp | 984.6 m | — | -19.3% | -14.2% | −1.9% | −48% / −79% |
| ACHVAchieve Life Sciences, Inc. | 718.3 m | — | -845.0% | — | unavailable | +43% / +21% |
| MYGNMyriad Genetics, Inc. | 575.8 m | — | -32.5% | -14.0% | −1.6% | −21% / −68% |
| TKNOAlpha Teknova, Inc. | 395.7 m | — | -24.2% | -38.4% | +7.4% | +57% / +261% |
| ICCCImmuCell Corporation | 94.2 m | 138.2 | 2.6% | 2.6% | +4.3% | +114% / +128% |
| IMDXInsight Molecular Diagnostics Inc. | 86.7 m | — | — | -2,955.6% | +115.6% | −57% / −30% |
| BMRABiomerica, Inc. | 8.0 m | — | -113.8% | -115.5% | −16.2% | −27% / −77% |
| CDIOCardio Diagnostics Holdings, Inc. | 4.9 m | — | -75.4% | -44,771.8% | −57.5% | −43% / −97% |
| QCLSQ/C Technologies, Inc. | 3.2 m | — | -155.0% | — | −5.3% | −89% / −100% |
| VNRXVolitionRx Limited | 2.8 m | — | — | -1,043.1% | +40.0% | −97% / −99% |
| VRAXVirax Biolabs Group Ltd | 695.1 k | — | -109.6% | -95,739.2% | −96.0% | −88% / −98% |
| NNNNAnbio Biotechnology | — | 25.0 | 27.0% | 74.1% | +5.6% | −84% / unavailable |
1- and 3-year price returns: for LNTH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 67.48 Total return -33% · Per year -33% | 118.75 Total return 17% · Per year 17% | 178.12 Total return 76% · Per year 76% |
| 3 years | 80.04 Total return -21% · Per year -8% | 157.05 Total return 55% · Per year 16% | 256.50 Total return 154% · Per year 36% |
| 5 years | 94.94 Total return -6% · Per year -1% | 207.69 Total return 105% · Per year 15% | 369.36 Total return 265% · Per year 30% |
- Exit P/E± 39.26
- Net margin± 27.48
- Annual revenue growth± 20.50
- Annual dilution± 2.31
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Lantheus is a radiopharmaceutical-focused company that helps clinicians find, fight and follow disease, most notably prostate cancer with PYLARIFY. The company is now in a transition period, with a merger with Curium announced in August 2026 valued at up to [8.0] billion dollars 3.
SWOT
Strengths
- The PET diagnostics portfolio is diversified, with products approved in many countries and a broad PET manufacturing network 1.
- The company has sufficient liquidity, with cash on hand and access to a revolving credit line 3.
- Recent acquisitions brought new products such as Neuraceq, which complements the Alzheimer's area 1.
Weaknesses
Opportunities
Risks
- Dependence on PYLARIFYhigh
A large share of revenue comes from one product, and pricing and market share pressure could affect results 1.
- Generic entryhigh
Expiry of exclusivity for PYLARIFY could bring generic competitors with an impact on prices 1.
- Medicare reimbursementmedium
Changes in payment for diagnostic agents can influence clinician choice and sales volume 1.
- Curium transactionmedium
The merger depends on meeting closing conditions, and its failure could affect investor confidence 23.
Investment thesis
What would need to be true (bull case)
- If PYLARIFY regains market share, revenue could return to its earlier pace, especially with the new TruVu formulation 2.
- An expanded PET portfolio built through acquisitions could increase demand in the Alzheimer's area, where products are already approved in many countries 1.
- The Curium merger could create a larger platform with access to patients in over 70 countries, if the transaction closes 3.
What to watch
- Closing of the Curium merger and its conditions2026
- PYLARIFY sales and market share trendsQ3 2026
- Expiry of NCE exclusivity for PYLARIFY and any generic entry2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Lantheus presents itself as the leading radiopharmaceutical-focused company, committed to enabling clinicians to Find, Fight and Follow disease 1. Its commercial portfolio is organized in three categories: radiopharmaceutical oncology, precision diagnostics and strategic partnerships, which include CDMO revenue generated by Evergreen 1. In 2025 the company focused its strategy on PET: it sold the SPECT business to SHINE, completed January 1, 2026, for up to [155.0] million dollars 1, and acquired Life Molecular, which brings Neuraceq, with an upfront payment of [352.9] million dollars 1.
In 2025 the company also acquired Evergreen Theragnostics, paying an upfront amount of [276.4] million dollars, with further obligations tied to milestones 1. Leadership was reorganized: the Board Chair became executive chair and, from January 1, 2026, chief executive officer, until a successor is appointed 1.
Segments
Radiopharmaceutical oncology
PYLARIFY, the PSMA PET agent for prostate cancer, generated sales of [240.4] million dollars in the second quarter of 2026, down [4.1] percent 3. The loss of transitional pass-through status and competitive pressure could weigh on it further 1.
Market context
The radiopharmaceutical diagnostics market centers on PET imaging and agents that help identify and follow disease. Quarterly revenue reached [388.2] million dollars in the second quarter of 2026, up [2.7] percent from a year earlier 3. The market depends on Medicare reimbursement, which can vary with pass-through status 1.
Competition is intense in the PSMA segment, where the company faces gallium-68 agents and an F-18 competitor 1. The expiry of new chemical entity exclusivity for PYLARIFY in May 2026 could bring generic entry 1.
Trends
- Expiry of transitional pass-through statusheadwind
After December 31, 2024 PYLARIFY lost TPT status and payment is now based on mean unit cost, which is lower than the earlier threshold 1. Pricing pressure could continue if other agents receive more favorable reimbursement 1.
- Consolidation in radiopharmaceuticalsmixed
The merger with Curium, announced in August 2026, shows the sector consolidating, which may change competitive dynamics 3.
- Generic competitionheadwind
If the expiry of exclusivity for PYLARIFY leads to generic entry, demand and prices could fall materially 1.
Competitive position
In the PSMA segment, PYLARIFY competes with three gallium-68 agents, two from Telix Pharmaceuticals and one from Novartis, as well as an F-18 agent from Blue Earth Diagnostics 1. The company has lost share to competitors that later obtained TPT status or offered rebates 1.
In Alzheimer's, competition comes from other PET agents approved in several countries, and Neuraceq is already approved in many jurisdictions 1. Competition is less direct for cardiovascular products but depends on reimbursement 1.
- Telix Pharmaceuticals
Supplies two gallium-68 PSMA PET agents that compete with PYLARIFY 1.
- Novartis
Offers a gallium-68 PSMA PET agent and brought the patent action related to PNT2003 1.
- Blue Earth Diagnostics
Produces an F-18 PSMA PET agent that competes directly with PYLARIFY 1.
- Curium
The merger partner announced in August 2026, which would create a company spanning diagnostics and therapeutics 3.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Banks Vie for $4.25 Billion Debt Financing to Back Lantheus DealBloomberg Markets · 15 Oct 2026 · EN
- Strong Earnings, FDA Approval, and Takeover Interest Drive Lantheus Holdings’ (LNTH) RallyYahoo Finance — News · 23 Sept 2026 · EN
- Curium Is Said to Near About $7 Billion Acquisition of LantheusBloomberg Markets · 27 Jul 2026 · EN
- Lantheus Weighs Potential $7 Billion Sale Following Offer From CuriumBloomberg Markets · 22 May 2026 · EN
The latest news item in our archive is from 15 Oct 2026; the newest SEC filing is from 22 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report22 Oct 2026Other events
- Current report14 Oct 2026Shareholder vote
- Current report02 Oct 2026Other events
- Current report21 Sept 2026Other events
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report04 Aug 2026Material agreement · Departure or appointment of officers · Financial statements and exhibits
- Current report03 Aug 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Lantheus Holdings, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Lantheus Holdings, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Lantheus Holdings, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.