2024 was a transformative year, in which we laid the foundation for the next phase of growth while continuing to deliver strong commercial and financial performance.
Group financial metrics:
Our strategy
Telix’s goal is to be the recognized global leader in the delivery of therapeutic radiopharmaceuticals and precision medicine.
Our strategy is to launch innovative imaging agents in our core disease areas, while financing the development of therapeutic product candidates, including next-generation radiopharmaceuticals. This strategy is underpinned by a vertically integrated approach to supply and manufacturing, and supported by a first-class commercial organization ensuring global patient access to our products.
Our strategy is designed to deliver on our purpose and mission and reflects the evolution of our business into a global, multi-product, commercial-stage company with a deep theranostic pipeline. We believe this approach will deliver benefits to patients and returns to shareholders over the near- and long-term.
Our strategic pillars and goals are outlined below, along with our key achievements in delivering on the strategy.
Strategic pillars
radiopharmaceuticals
Executing on our strategy
Each business area is accountable for delivering on our strategic pillars. The MedTech and International businesses report strategy and financials under Precision Medicine.
The role of mergers and acquisitions
Since becoming a commercial-stage company in 2021, Telix has demonstrated our ability to effectively reinvest earnings to deliver new clinical capabilities and, in turn, create value for shareholders.
However, the field of nuclear medicine is at a unique inflection point. A surge of new clinical applications, technologies and delivery solutions means it is no longer sustainable to simply outsource product delivery and customer interactions. In recent years, there has been significant capacity pressure on raw materials, supply chains, manufacturing infrastructure and clinical service provision. Failing to manage and mitigate these challenges and risks can lead to delivery delays, sub-optimal clinical service provision, and reduced patient access. Telix faces an additional level of challenge because we believe that a medicine is only meaningful and impactful if it can be delivered globally.
We have embarked upon a growth strategy that goes beyond re-investment of earnings, to include strategic M&A, licensing and partnership activities. Our inorganic growth strategy is focused on four areas of capacity building:
For Telix, successful M&A, licensing and partnering go beyond simply identifying and acquiring interesting assets. Effective integration, compliance and workforce development are crucial to our growth. Where teams have developed capabilities and excellence that can benefit the wider organization, we adopt those best practices. The talent and momentum that we have been able to inject into Telix in recent years distinguishes us from our competitors and embeds capabilities that are now significant commercial barriers to entry.
Brand names subject to final regulatory approval.