Telix Reports $390M Revenue in H1 2025, Boosted by Illuccix and RLS Acquisition
Telix Pharmaceuticals reported a robust 63% year-over-year revenue increase in H1 2025, driven by strong sales of its precision medicine products and strategic acquisitions. The company is advancing multiple late-stage clinical trials and expanding its global manufacturing footprint.
- 63% revenue growth to $390.4 million in H1 2025
- Illuccix® approved in 23 countries with growing demand
- Launch of Gozellix® with secured reimbursement in the US
- R&D investment up 47% supporting late-stage therapeutics pipeline
- Strategic acquisition of RLS Radiopharmacies expands US manufacturing and distribution
Strong Commercial Momentum
Telix Pharmaceuticals has delivered a striking 63% increase in revenue for the first half of 2025, reaching $390.4 million. This growth is largely attributed to the expanding sales of its precision medicine portfolio, notably the prostate-specific membrane antigen (PSMA) imaging agent Illuccix®, which now holds marketing authorizations in 23 countries. The company’s strategic acquisition of RLS Radiopharmacies has further diversified revenue streams and bolstered its US presence, contributing $79 million in third-party sales.
Pipeline Progress and Clinical Milestones
Telix is advancing several late-stage clinical programs, including the completion of enrollment in the ProstACT Phase 3 trial for metastatic castrate-resistant prostate cancer and the initiation of the IPAX-BrIGHT pivotal trial in glioblastoma. The company is also preparing regulatory resubmissions for Pixclara® and anticipates FDA approval of Zircaix® shortly. Notably, two alpha therapy candidates, TLX592 and TLX252, have entered first-in-human trials, underscoring Telix’s commitment to next-generation therapeutics.
Expanding Manufacturing and Global Reach
To support its growth trajectory, Telix has significantly expanded its manufacturing infrastructure, including new GMP-certified facilities in Belgium and Japan. The integration of RLS has enhanced its US manufacturing and distribution capabilities, with plans to install six cyclotrons equipped with ARTMS QIS® technology to increase production capacity and reduce reliance on third-party suppliers. These investments are designed to ensure supply chain resilience and meet anticipated demand for radiopharmaceuticals.
Financial Discipline Amid Growth
Despite substantial investments in R&D and commercial infrastructure, Telix maintained positive operating cash flow of $17.7 million in H1 2025 and ended the period with a healthy cash balance of $207.2 million. The company reaffirmed its full-year revenue guidance of $770 million to $800 million and expects R&D expenditure to increase by 20% to 25% compared to 2024, reflecting its focus on advancing late-stage assets toward commercialization.
Looking Ahead
Telix’s multi-product PSMA strategy, including the launch of Gozellix® with secured reimbursement in the US, positions it well to capture a growing market estimated at over $6 billion in the US alone. The company’s ongoing clinical trials and regulatory submissions will be critical catalysts in the coming months, alongside continued expansion of its manufacturing footprint and commercial infrastructure.
Bottom Line?
Telix’s strong H1 performance and pipeline momentum set the stage for a pivotal second half, with regulatory approvals and commercial launches poised to drive further growth.
Questions in the middle?
- Will the FDA approve Zircaix® following the planned resubmission?
- How quickly can Telix scale production with new cyclotron installations to meet demand?
- What impact will the integration of RLS have on Telix’s operating margins in the near term?
