Top 20 Radiopharmaceutical Companies of 2025

Shots:

• Imaging, precision diagnostics, and targeted therapies are among the many ways radiopharmaceuticals improve patient outcomes and meet unmet healthcare needs
• In 2024, the global radiopharmaceuticals market was valued at $6.74B and is envisioned to grow to $13.67B by 2033, exhibiting a CAGR of 8.2% from 2024 to 2033. Lilly ranks first in our list with a market cap of 783.76B, followed by Novartis ($233.78B) and RayzeBio ($120.16B) respectively
• PharmaShots brings a condensed report on the Top 20 Radiopharmaceutical Companies of 2025, based on market cap

20. Cellectar Biosciences

Market Cap: 16.59M

Founded Year: 1996

Total Employees: 11

Headquarters: New Jersey, United States

Stock Exchange: NASDAQ

• Cellectar Biosciences is a late-stage biopharmaceutical company known for developing cancer therapies leveraging its proprietary Phospholipid Drug Conjugate (PDC) delivery platform
• The company’s lead candidate Iopofosine is under development for various oncology indications 
• In November 2024, Cellectar Biosciences and NorthStar Medical Radioisotopes entered into a strategic partnership for the Supply of Actinium-225

19. Oncoinvent

Market Cap: 18.09M

Founded Year: 2010

Total Employees: 35

Headquarters: Oslo, Norway

Stock Exchange: FRA

• Oncoinvent is a radiopharmaceutical company focused on developing targeted radiation therapies for the treatment of cancer 
• Oncoinvent’s lead candidate, Radspherin, is an alpha-radiation therapy used to treat cancers that have spread to body cavities
• In December 2024, Oncoinvent collaborated with ARTBIO on radiopharma laboratory facilities

18. Radiopharm Theranostics

Market Cap: 38.45M

Founded Year: 2021

Total Employees: 20

Headquarters: Sydney, Australia

Stock Exchange: NASDAQ

• Radiopharm Theranostics is a biotechnology company specializing in the development of radiopharmaceuticals for the diagnosis and treatment of unmet medical needs
• RAD 101 is the company’s lead asset, currently being evaluated in the P-II study for brain mets 
• In December 2024, Radiopharm Theranostics entered a strategic co-development partnership with Lantheus to advance developments of radiopharmaceuticals in Australia

17. OncoTherapy Science

Market Cap: 48.74M

Founded Year: 2001

Total Employees: 54

Headquarters: Kawasaki City, Japan

Stock Exchange: TYO

• OncoTherapy Science is a biopharmaceutical company focused on the discovery, development, and commercialization of cancer therapies
• OncoTherapy’s asset OTSA101 is being evaluated in the P-I study for Synovial Sarcoma in Japan
• In 2024, the company completed the enrollment for the P-I study of OTSA101 and confirmed the safety and tolerability of radioisotope-conjugated OTSA101 in refractory, relapsed, and/or advanced synovial sarcoma patients

16. Actinium Pharmaceuticals

Market Cap: 58.34M

Founded Year: 2000

Total Employees: 37

Headquarters: New York, United States

Stock Exchange: NYSE

• Actinium Pharmaceuticals is a biotechnology company focused on developing Antibody Radiation Conjugates (ARCs) and other targeted radiotherapies for cancer 
• Actinium’s lead candidate Actimab-A is under development for relapsed/refractory AML and myeloid malignancies 
• In July 2024, Actinium reported the IND application clearance by the US FDA to study Iomab-ACT for targeted conditioning before a bone marrow transplant, in patients with sickle cell disease

15. Perseus Proteomics

Market Cap: 93.02M

Founded Year: 2001

Total Employees: 25

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• Perseus Proteomics is a biotechnology company focused on advancing the field of proteomics to better understand disease mechanisms and develop therapeutic antibodies
• The company is developing its radiopharmaceutical candidate PPMX-T002 for the treatment of solid tumor  
• In October 2024, Perseus Proteomics presented a presentation of PPMX-T002 at the EANM’24 annual congress

14. Dongwha Pharmaceutical

Market Cap: 117.1M

Founded Year: 1897

Total Employees: 816

Headquarters: Seoul, South Korea

Stock Exchange: KRX

• Dongwha Pharmaceutical is a South Korean pharmaceutical company that specializes in the development, manufacturing, and distribution of a wide range of pharmaceutical products
• The company has one marketed radiopharmaceutical product Milican injection used in the treatment of hepatocellular carcinoma and hemophiliac arthritis
• In September 2024, Dongwha Pharmaceutical acquired Hironic, an aesthetic medical device manufacturer

13. Clarity Pharmaceuticals

Market Cap: 459.97M

Founded Year: 2010

Total Employees: 50

Headquarters: New South Wales, Australia

Stock Exchange: ASX

• Clarity Pharmaceuticals is a clinical-stage radiopharmaceutical company focused on developing targeted radio therapies in oncology
• The company’s lead radiopharmaceutical candidate SAR-bisPSMA is being developed for prostate cancer 
• In November 2024, the company reported the dosing of the first 2 participants with Cu-64 SAR-bisPSMA in Co-PSMA study

12. Eckert & Ziegler AG

Market Cap: 1.21B

Founded Year: 1997

Total Employees: 1,143

Headquarters: Berlin, Germany

Stock Exchange: ETR

• Eckert & Ziegler AG is focused on the development, manufacturing, and distribution of radiation technology and isotopes for medical, scientific, and industrial applications
• The company markets Yttriga, an Yttrium Chloride sterile solution that is registered as a medicinal product in the EU
• In November 2024, Eckert & Ziegler received EC approval for Theralugand Lutetium-177 Chloride

11. Jubilant Pharmova

Market Cap: 1.63B

Founded Year: 1978

Total Employees: 3,618

Headquarters: Uttar Pradesh, India

Stock Exchange: NSE

• Jubilant Pharmova is a global pharmaceutical company that is part of the Jubilant Life Sciences Group. The company operates into three segments: Specialty Pharmaceuticals (Radiopharmaceuticals), Allergy Therapy Products and CDMO
• HICON and RUBY-FILL are among the various radiopharmaceutical products that the company offers 
• In October 2024, Jubilant Radiopharma and Life Molecular Imaging entered into a strategic collaboration and licensing agreement to provide and distribute Neuraceq in Alabama

10. PeptiDream

Market Cap: 1.84B

Founded Year: 2006

Total Employees: 732

Headquarters: Kanagawa, Japan

Stock Exchange: TYO

• PeptiDream is a biotechnology company focused on the discovery and development of peptide-based therapeutics by leveraging its proprietary platform: Peptide Discovery Platform System (PDPS) 
• 64Cu-ATSM is the lead asset of the company that is being developed for malignant brain tumors in collaboration with LinqMed and prostate cancer with Curium
• In December 2024, Peptidream disclosed a new candidate PD-29875, a peptide-radioisotope conjugate targeting Claudin 18.2 (CLDN18.2)

9. Telix Pharmaceuticals

Market Cap: 5.86B

Founded Year: 2015

Total Employees: 535

Headquarters: Melbourne, Australia

Stock Exchange: ASX

• Telix Pharmaceuticals is a global biopharmaceutical company focused on the development and commercialization of radiopharmaceuticals for the diagnosis and treatment of cancer and other unmet needs
• The company markets Illuccix, a radiopharmaceutical product for PET scans in prostate cancer, and has several radiopharmaceutical candidates in development, including TLX592 (225Ac–RADmAb) and TLX250 (177Lu–girentuximab)
• In October 2024, the US FDA accepted the NDA for Telix’s TLX101-CDx (Pixclara) and granted priority review with a PDUFA action date of 26 April 2025

8. Lantheus

Market Cap: 6.74B

Founded Year: 1956

Total Employees: 808

Headquarters: Massachusetts, United States

Stock Exchange: NASDAQ

• Lantheus is a global radiopharmaceutical company specializing in the development, manufacturing, and commercialization of radio therapies and precision diagnostic products
• The company’s key products include PYLARIFY, DEFINITY and TECHNELITE 
• In July 2024, Lantheus acquired Meilleur Technologies and added NAV-4694, a ß Amyloid PET Imaging Agent for Alzheimer’s Disease to its product portfolio

7. BWXT Medical (BWX Technologies)

Market Cap: 9.35B

Founded Year: 1867

Total Employees: 8,700

Headquarters: Virginia, United States

Stock Exchange: NYSE

• BWXT Medical is a division of BWX Technologies focused on the development and manufacturing of medical isotopes for diagnostic imaging and therapeutic applications
• The company markets Indium-111 Oxyquinoline Solution & Sodium Iodide I-123 Oral Solution with several other radiopharmaceuticals in its pipeline
• In July 2024, BWXT Medical and NorthStar Medical Radioisotopes entered into a Master Services Agreement to facilitate the production of actinium-225 (Ac-225)

6. Bayer

Market Cap: 24.14B

Founded Year: 1863

Total Employees: 92,815

Headquarters: Leverkusen, Germany

Stock Exchange: ETR

• Bayer is a global life science company that operates under three business segments: crop science, pharmaceuticals, and consumer health. The company’s therapeutic area focuses on cardiology, gynecology, diabetes, oncology, and ophthalmology
• Bayer markets Xofigo (radium Ra 223 dichloride), a radiopharmaceutical to treat prostate cancer that has spread to the bones (bone metastases) in adult men
• In February 2024, Bayer entered into a capacity reservation agreement with PanTera for the supply of actinium-225

5. GE Healthcare

Market Cap: 37.04B

Founded Year: 1994

Total Employees: 53,000

Headquarters: Illinois, United States

Stock Exchange: NASDAQ

• GE Healthcare is a global leader in medical technologies and healthcare solutions, specializing in delivering imaging, diagnostics, and patient monitoring systems
• The company develops several molecular imaging agents, including DaTscan, Vizamyl, and more 
• In December 2024, GE HealthCare agreed to acquire full ownership of Nihon Medi-Physics by purchasing a 50% stake from Sumitomo Chemical

4. Siemens Healthineers

Market Cap: 61.38B

Founded Year: 1847

Total Employees: 73,100

Headquarters: Bavaria, Germany

Stock Exchange: ETR

• Siemens Healthineers is a global MedTech company that provides a wide range of healthcare solutions, including diagnostic imaging, laboratory diagnostics, and digital health services
• Siemens’ radiopharmaceutical portfolio includes Ammonia N13, Amyvid and more
• In December 2024, Siemens Healthineers acquired advanced accelerator applications molecular imaging from Novartis

3. RayzeBio (BMS)

Market Cap: 120.16B

Founded Year: 1887

Total Employees: 34,100

Headquarters: New York, United States

Stock Exchange: NYSE

• RayzeBio is a biotechnology company focused on developing targeted therapies for cancer, using radiopharmaceuticals
• Currently the company pipeline includes three radiopharmaceutical candidates: RYZ101, RYZ801, and RYZ811 being developed for various indications
• In June 2024, RayzeBio paused the P-III (ACTION-1) study evaluating RYZ101 due to an isotope shortage

2. Novartis

Market Cap: 233.78B

Founded Year: 1996

Total Employees: 75,883

Headquarters: Basel City, Switzerland

Stock Exchange: NYSE

• Novartis is a global healthcare company focused on the discovery, development, and commercialization of therapies in cardiovascular, renal, metabolic (CRM), immunology, neuroscience, and oncology
• Lutathera and Pluvicto are the two radiopharmaceutical products that company markets 
• In November 2024, Novartis entered into a license and collaboration agreement with Ratio Therapeutics for SSTR2-targeting radiotherapeutic candidate for cancer\

1. Eli Lilly

Market Cap: 783.76B

Founded Year: 1876

Total Employees: 47,000

Headquarters: Indiana, United States

Stock Exchange: NYSE

• Eli Lilly is an American pharmaceutical company that specializes in bone and joint disease, cancer, cardiovascular disease, diabetes, endocrine illness, immunology, neurodegeneration, neurology, and pain management
• The company’s pipeline includes one radiopharmaceutical candidate: 225Ac-PSMA-62 PNT2001 that is being developed for prostate cancer
• In July 2024, Eli Lilly entered into a strategic agreement with Radionetics Oncology to advance Radionetics’ proprietary GPCR targeting small molecule radiopharmaceuticals

Sources:

• Company Websites
• Press releases
• LinkedIn
• Google Finance
• OANDA

Related Post: Top 20 Radiopharma Companies of 2024 Based on Market Cap