Jubilant to acquire radiopharmacy business of US-based Triad Isotopes

Triad operates the second largest radiopharmacy network in the US with more than 50 pharmacies

Last Updated : May 05 2017 | 12:06 PM IST

The Noida-based Jubilant Pharma Limited (JPL), a wholly owned subsidiary of Jubilant Life Sciences Limited, has agreed to acquire the radiopharmacy business of the US-based Triad Isotopes for an undisclosed amount. For this, an asset purchase agreement was signed by JPL with Triad Isotopes and its parent, Isotope Holdings Inc.

The acquisition will be funded through JPL’s internal accruals and is likely to be earnings accretive in the first full year of operations.

Triad recorded revenues in excess of $ 225 million in 2016 with positive EBITDA and operates the second largest radiopharmacy network in the US with more than 50 pharmacies, distributing nuclear medicine products to the largest national GPOs, regional health systems, stand-alone imaging centres, cardiologists and hospitals.

The acquisition is a strategic fit to Jubilant’s niche nuclear medicine business and will provide Jubilant with direct access to hospital networks with ability to deliver more than 3 million patient doses annually through approximately 1,700 customers. The acquisition will facilitate Jubilant forward integrate in the radiopharmaceutical business, thereby helping it better directly serve healthcare providers and their patients with high quality radiopharmaceutical products.

The US market accounts for approximately 70 percent of the Jubilant Pharma’s radiopharmaceuticals business sales, with Canada accounting for close to 20 percent sales and the rest of the revenues coming from markets in Europe, Latin America and Asia. Jubilant has been further strengthening its radiopharmaceuticals business in the US.

In January this year, Jubilant DraxImage Inc (JDI), the Montreal (Canada) based wholly-owned subsidiary of Jubilant Pharma, signed long term contracts with distribution networks in the US for supply of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lung, kidney and bone scans.

Jubilant Pharma’s radiopharmaceuticals business develops, manufactures and markets a portfolio of products that enable nuclear medicine physicians to deliver personalised healthcare to their patients around the globe. Its core products primarily serve patients with cardiac, thyroid and lung disease providing reliable high quality imaging agents and patient specific therapies for nuclear medicine procedures.