Eli Lilly (NYSE: LLY) has finalized its acquisition of radiopharmaceutical company Point Biopharma (NASDAQ: PNT) this week, following the clearance of the last regulatory requirement last month.
As part of the acquisition, Lilly gains access to Point’s PNT2002, a PSMA-targeting radiopharmaceutical currently in Phase III trials for metastatic castration-resistant prostate cancer (mCRPC). Additionally, Lilly acquires candidate PNT2003, which targets SSTR and is being developed for gastroenteropancreatic neuroendocrine tumors (GEP-NETs). The deal also includes a radiopharmaceutical manufacturing facility in the U.S. and a research and development center in Canada, further bolstering Lilly’s capabilities in the radiopharmaceutical sector.- Flcube.com
