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AAP
AAP
Business
Derek Rose

Aussie cancer diagnosis firm expands with $3.3b merger

Telix Cancer ITM United States Joanna Kordina Novartis ASX US Food and Drug Administration
ASX-listed Telix Pharmaceuticals is set to acquire German company ITM Isotope Technologies Munich. (David Crosling/AAP PHOTOS)

An Australian company that manufactures radioactive drugs that help treat and diagnose diseases will acquire a German isotope maker in a transaction worth up to $3.3 billion.

ASX-listed Telix Pharmaceuticals will pay at least $US1.65 billion ($2.3 billion) in scrip upfront for ITM Isotope Technologies Munich, a private radioisotope manufacturer with a global distribution network that spans more than 65 countries.

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