Lantheus Holdings, Inc. closed the sale of its single‑photon emission computed tomography (SPECT) business to SHINE Technologies, LLC, a subsidiary of Illuminated Holdings, Inc., on January 2 2026. The transaction transferred the SPECT diagnostic agents TechneLite®, NEUROLITE®, Xenon Xe‑133 Gas, and Cardiolite®, along with the North Billerica, Massachusetts manufacturing facility and related Canadian operations. While the financial terms were not disclosed, the divestiture removes a legacy product line that historically generated modest revenue and required a separate manufacturing footprint.
The sale aligns with Lantheus’ strategic shift toward its high‑margin PET radiopharmaceuticals, notably PYLARIFY, and its expanding theranostic pipeline. By shedding the SPECT platform, the company reduces operating complexity, eliminates a separate supply chain, and frees capital that can be redirected to research and development of next‑generation PET agents. The move also positions Lantheus to capitalize on the growing demand for precision imaging in oncology and neurology, where its PET portfolio has already achieved blockbuster sales of over $1 billion in 2024.
Financially, the divestiture is expected to strengthen Lantheus’ balance sheet. Although the deal value remains undisclosed, the removal of a low‑margin, low‑volume business is projected to improve operating leverage and free cash flow. Analysts note that the company’s gross profit margin has remained healthy, and the company’s current ratio and debt‑to‑equity profile are favorable, suggesting that the capital freed will support continued investment in its PET and theranostic assets.
Management emphasized the strategic importance of the transaction. CEO Brian Markison stated that the sale “sharpens our focus on the high‑growth areas of PET diagnostics and theranostics, allowing us to allocate resources to the most promising opportunities.” He added that the divestiture is a key step in reinforcing Lantheus’ leadership in radiopharmaceuticals and in positioning the company for accelerated growth.
Looking ahead, the transaction signals Lantheus’ commitment to its core PET business and its theranostic pipeline, which includes agents for prostate cancer, neuroendocrine tumors, and Alzheimer’s disease. By consolidating its operations, Lantheus aims to enhance operational efficiency, reduce regulatory burden, and accelerate the development of new PET agents, thereby strengthening its competitive position in the precision medicine market.
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