Siemens Boosts Radiopharmaceutical Reach

Siemens has announced plans to acquire Novartis’ radiopharmaceutical manufacturing and distribution network for €200 million. This strategic move significantly bolsters Siemens’ presence in Europe, adding 14 new sites in France, Spain, Portugal, Italy, and Germany, with additional assets in Switzerland. The acquisition is poised to enhance Siemens’ ability to deliver critical short-lived radioactive compounds for cancer and Alzheimer’s diagnostics, thereby improving patient care.

The deal comes as radiopharmaceuticals gain traction for their role in targeted cancer treatments and advanced imaging techniques. Companies like Novartis have heavily invested in producing radioactive compounds due to their potential in improving the precision and effectiveness of treatments. Siemens’ existing Petnet business, which operates 47 cyclotron-powered radiopharmacies primarily in the U.S., will benefit from the expanded European footprint. This acquisition allows Siemens to produce and deliver radiopharmaceuticals closer to patients, an important factor given these compounds’ short half-lives.

Earlier this year, Siemens CEO Montag highlighted plans to expand the Petnet network, citing the need for new production facilities to support advanced diagnostics. With this expansion, Siemens is strategically positioned to cater to rising demands not only in oncology but also in the burgeoning field of Alzheimer’s diagnostics.

Siemens’ acquisition of Novartis’ radiopharmaceutical assets marks a significant milestone in improving patient access to cutting-edge diagnostics and treatments. By expanding its European operations, Siemens is set to play a bigger role in revolutionizing personalized care, paving the way for advancements in both cancer and Alzheimer’s disease treatment. This move underscores Siemens’ commitment to staying at the forefront of medical innovation and enhancing global healthcare outcomes.