Why is Telix Pharma (ASX:TLX) in news today?

2 min read | October 14, 2022 01:55 PM AEDT | By Team Kalkine Media

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Why is Telix Pharma (ASX:TLX) in news today? — Image source: © Picsfive | Megapixl.com

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Highlights:

Telix Pharmaceuticals’ Illuccix® has received approval from Health Canada.

Illuccix® can be used to localise and stage, restage prostate cancer in men, as per Telix.

On 14 October 2022, Australian healthcare company Telix Pharmaceuticals Limited (ASX: TLX) announced on ASX that Health Canada has approved the use of Illuccix®, its lead radioactive diagnostic agent. Illuccix® is a kit for the preparation of gallium (⁶⁸Ga) gozetotide injection. It is utilised to localise tumour tissue in recurrent prostate cancer as well as stage and restage intermediate- and high-risk prostate cancer.

The shares of TLX, at 1:18 PM AEDT, were quoted 1.308% lower at AU$5.280 apiece on ASX today.

What is Illuccix®?

Telix has planned to make Illuccix® available to clinicians and eligible patients in Canada using its partner Isologic Innovative Radiopharmaceuticals (ISOLOGIC). The distribution network of ISOLOGIC is spread across Canada, with over 265 hospitals and clinics.

Talking about this Illuccix® approval, Kevin Richardson, CEO, Telix Americas, said,

About Prostate Cancer in Canada

The Canadian Cancer Society said in a report that prostate cancer is the most prevalent cancer and the third-leading cause of cancer-related deaths in Canadian men. Prostate cancer is expected to affect more than 24,000 men in Canada this year, and 4,600 of them will pass away from the disease. For medical teams to bridge the gap between understanding the spread of disease and creating customised treatment regimens, they need reliable and adaptable diagnostic technologies.

Dr Norman Laurin, Quebec Association of Nuclear Medicine Specialists’ current and Canadian Association of Nuclear Medicine’s past president, commented on this development and said,

Things to know about Telix Pharmaceuticals

Telix is an Australian biopharmaceutical company established in 2015 and is headquartered in Melbourne, Australia. The focus of Telix Pharmaceuticals is to create and market diagnostic and therapeutic radiopharmaceuticals. The company is also creating a portfolio of clinical-stage pharmaceuticals with the goal of filling a sizable gap in the treatment of oncology and rare disorders.

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