Siemens Healthineers has concluded the acquisition from Novartis of Advanced Accelerator Applications Molecular Imaging, a European manufacturing and distribution network of diagnostic radiopharmaceuticals for positron emission tomography (PET) scans. The acquired company will be known as Advanced Accelerator Applications, a Siemens Healthineers company.
The acquisition complements the Siemens Healthineers PETNET Solutions network of 47 PET radiopharmacies, primarily in the U.S., with an additional 13 manufacturing sites across France, Spain, Portugal, Italy, and Germany, as well as product distribution into Switzerland. Proximity to patients is essential for PET radiopharmaceuticals, with short half-lives. PETNET Solutions also manufactures diagnostic agents used for theranostics, an innovative form of personalized cancer treatment.
“The radiopharmaceutical sector is at an inflection point thanks in large part to innovation in the pharmaceuticals space, with PET serving as a gateway to patient eligibility for many of the new cancer and neurodegenerative-disorder therapies,” said Jim Williams, head of Molecular Imaging at Siemens Healthineers. “But even the greatest therapy is of no use unless you can get it to patients in time, so we’re excited to be adding the molecular imaging capabilities of Advanced Accelerator Applications, its first-class operations, extensive experience in nuclear medicine, and proven track record.”
The transaction includes the manufacturing and distribution network of Advanced Accelerator Applications Molecular Imaging, its workforce of approximately 420, its established product portfolio and relationships with radioligand imaging developers.
“We’re delighted to welcome our new colleagues to Siemens Healthineers and start our collaboration at this time of unprecedented growth in our industry,” said Barry Scott, CEO of PETNET Solutions.
The PET radiodiagnostics sector, serviceable from the countries listed above and the PETNET Solutions UK facilities, is currently worth around €500 million ($538 million) annually and is expected to triple by 2033, driven by the development of innovative tracers. Key growth drivers include third-party tracers for oncology, neurology, and cardiology.
