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BEDFORD, Mass. – Lantheus (NASDAQ:) Holdings, Inc. (NASDAQ: LNTH), a leader in the radiopharmaceutical industry, has reported preliminary unaudited financial results for its fiscal year ended December 31, 2023, indicating significant revenue growth. The company expects worldwide revenue to be between $1.295 and $1.297 billion, marking an increase of approximately 38-39% over the previous year. This growth surpasses the company’s earlier projections of $1.255 to $1.270 billion.
Revenue from PYLARIFY, a key product for Lantheus, is anticipated to be in the range of $851 to $853 million, a substantial jump of 61-62% from the prior year’s $527.4 million, pending final partner reconciliation. Additionally, DEFINITY, another major product, is expected to generate around $279M in revenue, up 14% compared to the previous year.
These impressive figures include a $15M milestone achievement for RELISTOR sales. Excluding this one-time milestone, the company’s year-over-year revenue growth is still a robust 37%.
Mary Anne Heino, CEO of Lantheus, expressed confidence in the company’s performance, attributing the success to the dedication of the Lantheus team and their efforts in advancing the radiopharmaceutical field. Heino highlighted the company’s impact on over six million patients and their families throughout the year and its strong positioning for continued growth and shareholder value in 2024.
The company’s full, audited financial results for both the fourth quarter and the full year of 2023 will be released in late February 2024. Lantheus, headquartered in Massachusetts with a global presence, has been a longstanding provider of radiopharmaceutical solutions for over 65 years.
These preliminary financial results are subject to adjustment and have been provided ahead of the company’s comprehensive report. The company has cautioned that these forward-looking statements, such as revenue expectations, are based on current estimates and are subject to risks and uncertainties that could cause actual results to differ materially.
This report is based on a press release statement from Lantheus Holdings, Inc.
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This story originally appeared on Investing
