Live Markets: Big pharma's FOMO will lead to more radio M&A

Actinium Pharmaceuticals

20/03/2024 13:33

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    BIG PHARMA'S FOMO WILL LEAD TO MORE RADIO M&A
    AstraZeneca's  AZN.L  $2.4 billion deal to buy Fusion
Pharmaceuticals  FUSN.O  on Tuesday is just the latest example
of the so-called renaissance of radio-pharmaceutical drugs - and
more such deals are likely to follow, expects Truist Securities.
    The Fusion drug is one among a line of next-generation radio
therapies, which use radio isotopes to precisely target cancer
cells. 
    Interest in the space has re-surged since 2021 when data
from Novartis'  NOVN.S  treatment showed that the drug extended
survival for prostate cancer patients. Companies such as Eli
Lilly  LLY.N , Bristol Myers Squibb  BMY.N  and Bayer have also
signed deals to buy radio-drug developers.  
    "In our view, big pharma has bought infrastructure
(manufacturing/supply) in radiopharma but likely needs to fill
their radiopharma pipelines" say analysts at Truist.
    The brokerage says there aren't many vertically-integrated 
public companies left for big pharma to buy - referring to
companies with both manufacturing capabilities and a pipeline of
treatments. 
    But those without manufacturing capacity could always use
contract manufacturers, and the brokerage instead expects big
pharma will focus on buying companies with a technology
platform, or novel drugs.
    According to Truist, the few standalone public radiopharma
companies include Perspective Therapeutics  CATX.A , Y-mAbs
Therapeutics  YMAB.O  and Actinium Pharmaceuticals  ATNM.A . 
    Private players include Abdera Therapeutics, Aktis Oncology
and Alpha-9 Oncology, it said. 
    
    (Christy Santhosh)
     *****
    
    
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