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Mergers & Acquisitions

Lantheus buys radiopharma CDMO Evergreen Theragnostics

by Rowan Walrath
February 7, 2025 | A version of this story appeared in Volume 103, Issue 3
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Lantheus, a Massachusetts-based developer of radiopharmaceuticals, has agreed to acquire the radiopharma contract development and manufacturing organization (CDMO) Evergreen Theragnostics. Lantheus will pay $250 million up front and up to $750 million in milestone payments. With the deal, Lantheus gains Evergreen’s Octevy, a diagnostic for certain neuroendocrine tumors that could complement a drug Lantheus is developing. Lantheus recently said it would pay $350 million to buy the positron emission tomography tracer developer Life Molecular Imaging.

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