YARDLEY, PA — In a strategic move set to significantly enhance its footprint in the US radiopharmaceutical market, Jubilant Radiopharma’s Radiopharmacies Division has unveiled plans for a substantial $50 million investment. This funding is earmarked for the development of six new PET radiopharmaceutical manufacturing facilities across the United States, aimed at meeting the burgeoning demand for advanced diagnostic and therapeutic nuclear medicine.
With expectations to have these new sites fully operational within the next 24 months, Jubilant Radiopharma is positioning itself at the forefront of an industry projected to quadruple in value from $5 billion in 2023 to an impressive $20 billion by 2030. This growth trajectory is driven by the expanding use of PET imaging for various medical conditions, including advanced diagnostics for prostate cancer and Alzheimer’s Disease, through the visualization of β-amyloid neuritic plaques.
The expansion will elevate Jubilant’s total PET radiopharmaceutical manufacturing sites to nine, complementing its already extensive network of radiopharmacy locations. Upon completion, the network will encompass fifty-two sites nationwide, making it the second-largest of its kind in the US.
Harsher Singh, CEO of Jubilant Radiopharma, articulated the significance of this investment, stating, “This investment shall help us meet increasing demand of novel PET products from our customers. With a much stronger PET manufacturing network, we also expect to secure long-term contracts with leading PET radiopharmaceutical manufacturers.” He further emphasized the company’s dedication to improving patient outcomes through nuclear medicine, highlighting the pivotal role of these facilities in advancing diagnostic and therapeutic capabilities within the healthcare sector.
This strategic expansion by Jubilant Radiopharma not only highlights the company’s commitment to leadership in the radiopharmaceutical industry but also signals a promising leap forward in the availability and accessibility of cutting-edge PET imaging technologies and treatments for patients across the United States.
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