Telix says strong revenue growth underpins investment in late-stage pipeline

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Telix (ASX:TLX) has announced total group revenue of $502.5 million for the 12 months to the end of December, up 214 per cent on the previous year.

The company said the result was driven by& continued strong growth in Illuccix sales. It said earnings were $58.4 million, compared to a loss of $67.8 million in 2022.

Managing Director and Group CEO Dr Christian Behrenbruch said, “This is an excellent result which demonstrates the strength of the Telix business model. We have achieved profitability while intensively investing in the development of our late-stage assets and the scale-up of our commercial infrastructure and marketing activity. This has resulted in Telix capturing a meaningful market share in the growing urology imaging market whilst laying the foundation for our next commercial products.

“We are highly focused on the development of our theranostic pipeline and vertical integration of supply and manufacturing. This activity is key to diversifying our revenue streams, creates additional value for our therapeutic assets and further differentiates Telix as a fully integrated global radiopharmaceutical company.”

Telix said it expects full-year revenue for 2024 in the range of $675 million to $705 million, which would represent a 35 to 40 per cent increase compared to 2023.