Key facts
- Curium has agreed to acquire Lantheus Holdings for up to $8 billion.
- Lantheus shareholders will receive $102.50 per share in cash, plus up to $12 per share in potential milestone payments.
- The total potential per-share consideration of $114.50 represents a 14.9% premium to Lantheus's last closing price.
- The deal is expected to close in the first half of 2027.
- Curium is backed by private equity firm CapVest Partners.
Radiopharmaceutical company Curium has agreed to acquire its peer Lantheus Holdings in a transaction valued at up to $8 billion. The deal aims to expand Curium's presence in the rapidly growing radiopharmaceutical sector, which focuses on using radioactive compounds for disease diagnosis and treatment, particularly in oncology.
Under the terms of the agreement, Lantheus shareholders will receive $102.50 in cash per share upon closing, with the potential to receive an additional $12 per share if certain sales targets are achieved by 2030. This total potential consideration of up to $114.50 per share represents a premium of approximately 14.9% over Lantheus's last closing stock price of $99.64. Lantheus shares saw a rise of over 2% in morning trading following the announcement.
Analysts offered mixed views on the offer. B. Riley Securities analyst Yuan Zhi described the upfront payment as fair but not generous, noting it was below investor expectations. Justin Walsh of Jones Trading suggested the deal might face significant regulatory scrutiny due to both companies being major players in diagnostic radiopharmaceuticals.
Lantheus, known for its diagnostic imaging agents like Pylarify for prostate cancer detection, has been a subject of takeover interest for months. Curium, supported by private equity firm CapVest Partners, develops and supplies radiopharmaceuticals for both diagnosis and treatment. The acquisition is slated to be financed through a combination of debt and equity, with an expected closing in the first half of 2027.