Curium to Acquire Lantheus in $6.9B Deal

Curium US LLC has agreed to take Lantheus Holdings, Inc. (LNTH) private in a deal that could total up to $8 billion, one of the largest transactions yet in the radiopharmaceuticals sector. Under the agreement, Lantheus shareholders will receive $102.50 per share in cash at closing, a base transaction value of roughly $6.9 billion.

The deal also includes non-transferable contingent value rights (CVRs) worth up to an additional $12.00 per share, tied to specified commercial sales milestones for Lantheus' prostate cancer diagnostics, neurology diagnostics and DEFINITY franchises through 2030. Including the CVRs, total consideration could reach roughly $114.50 per share, which is why some coverage cites the $6.9 billion upfront figure and other coverage the larger $8 billion headline number.

The combination brings together two of the larger suppliers of diagnostic and therapeutic radiopharmaceuticals. Curium, which is privately held, would gain Lantheus' US commercial franchise; Lantheus shareholders get a premium exit with added upside tied to execution.

The companies expect the deal to close in the first half of 2027, subject to shareholder and regulatory approval. Integration execution and reliance on a small number of global isotope-producing reactors, concentrated in the Netherlands, Belgium, South Africa and Canada rather than China, are the key variables to track as the deal moves toward close.

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