Jubilant Radiopharma invests $50 M to expand Positron Emission Tomography manufacturing network in US

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Jubilant Radiopharma’s Radiopharmacies division has announced an investment of $50 million to expand its positron emission tomography (PET) radiopharmaceutical manufacturing facilities by adding six sites in strategic locations throughout the United States. The new PET radiopharmaceutical manufacturing facilities are expected to be operational within 24 months.

The US radiopharmaceutical industry is poised to grow from $5 billion in 2023 to $20 billion in 2030 due to the increasing demand of PET imaging and advanced radiopharmaceutical therapies.

The growth in the PET imaging market is fueled by new products such as diagnostic agents indicated for positron emission tomography of prostate-specific membrane antigen (PSMA) positive lesions in men with prostate cancer and novel diagnostics that reliably visualize β-amyloid neuritic plaques for more personalised patient management in adult patients with cognitive impairment who are being evaluated for Alzheimer’s Disease (AD) and other causes of cognitive decline.

This investment will expand the company’s PET radiopharmaceutical manufacturing sites to nine and the overall radiopharmacy (PET/SPECT) network to fifty-two sites, solidly positioning Jubilant’s radiopharmacy network as the second largest in the US.