Telix Pharmaceuticals (ASX:TLX) has entered into a conditional purchase agreement with technology giant Eckert & Ziegler to acquire a radiopharmaceutical production facility in Belgium.
The global biopharmaceutical company's ownership of the site will deliver commercial benefits including enabling Telix to manufacture a broad range of diagnostic and therapeutic radiopharmaceuticals as the site has one of the most extensive private nuclear licenses in Europe.
It's stated that the timing of this acquisition is important as the company expects to complete two European product launches in the next 18-24 months.
Telix CEO Dr. Christian Behrenbruch says the aquisition is a big step forward for Telix, but it is a commercially necessary step given the company’s commercial trajectory over the next two years.
Shares in Telix Pharmaceuticals (ASX:TLX) closed 5.02 per cent lower at $1.42.