Bristol Myers Squibb, AstraZeneca, Eli Lilly and other major pharmaceutical companies have invested over $10 billion in radiopharmaceuticals acquisitions and partnerships over the past year. These companies are vying for a piece of the emerging market, which currently treats neuroendocrine tumors and prostate cancer but holds potential for numerous other cancers.
Bristol Myers Squibb, AstraZeneca, Eli Lilly and other pharmaceutical companies have spent some $10 billion on radiopharmaceuticals acquisitions and partnerships over the past year.Radiopharmaceuticals are currently available for some neuroendocrine tumors and prostate cancer. They could one day be used for numerous cancers.and other pharmaceutical companies have spent some $10 billion on deals to acquire or work with radiopharmaceuticals makers.
66-year-old billionaire says there's 1 trait it takes to succeed: ‘It doesn't matter how much experience they have' Pharmaceutical companies proved they could manage complex, time-sensitive drugs like CAR-T for blood cancers or gene therapies for rare diseases. Then Novartis showed those strategies could be applied in radiopharmaceuticals.
Manufacturing was also a key component in Bristol Myers Squibb's $4.1 billion acquisition of RayzeBio, said Ben Hickey, RayzeBio's president. At the time of the acquisition, RayzeBio was nearing completion of a factory in Indiana and had secured its own supply of radioactive material needed to develop the experimental drugs in its pipeline.
It can take a few weeks from prescribing a radiopharmaceutical to administering one. For Pluvicto, patients come in once every six weeks for up to six treatments.Ronald Coy knows how important it is to make it in for his appointments. Coy, a retired firefighter who's been battling prostate cancer since 2015, drives more than an hour through upstate New York to receive Pluvicto at Bassett.
At this point, it's still an if. The field is in its early days, executives say, and the promise of radiopharmaceuticals beyond the current cancers they treat still needs to be proven.
Radiopharmaceuticals Pharmaceuticals Oncology Cancer Treatment Biotech Acquisitions
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