Lantheus Holdings Inc at Morgan Stanley Global Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kelly McCarthy - Morgan Stanley - Analyst : So Brian, you assumed the role of CEO in March after sitting on the Board for 11 years. So what new perspectives are you bringing to that role? How, if in any way, is that changing the strategic focus of the company? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2024 / 11:45AM, LNTH.OQ - Lantheus Holdings Inc at Morgan Stanley Global Healthcare Conference

Question: Kelly McCarthy - Morgan Stanley - Analyst : So I definitely want to talk more about the M&A that you've done. But let's start with the commercial portfolio. So like you said, PYLARIFY is a huge success out of the gates, on track to surpass $1 billion in sales, will really be the first radio pharma diagnostic blockbuster. So what measures are you taking as an organization to maximize that opportunity? Why has the launch been so strong?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Can you talk a little bit more about the competitive dynamics in PSMA PET imaging and any competitive threats out there?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Right. So what does that growth look like in 2025 and beyond?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Fair enough. Fair enough.

Question: Kelly McCarthy - Morgan Stanley - Analyst : Let's talk a little bit about the reimbursement situation. There's been a lot of noise on this topic with transitional pass-through. But I understand you've received some good news from CMS in mid-July. So what are the implications there? What's the potential impact to patients?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Good. Sounds like a great development. And certainly, it will be paying off for your business. Let's talk a little bit about the pipeline. You've got your prostate cancer therapeutic candidate, PNT2002, and you've got SPLASH data right around the corner. What's the latest update there, where are expectations and --?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Well, I'm sure everyone is very focused on that. So good luck.

Question: Kelly McCarthy - Morgan Stanley - Analyst : And then on the other asset you in-licensed from POINT PNT2003, what's the -- this is in the neuroendocrine tumor setting. How do you think about the past regulatory path forward and how does that fit competitively if that were to launch in 2026, I think is the guidance you've given?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Absolutely. Let's talk about the topic of M&A, and you've been very, very active on the business development front this year. So maybe you can talk a little bit about what you've been able to add to the pipeline. And what's the impact do you expect some of these deals to have?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Very helpful, and thanks for walking through those. And now with those transactions in the rear view, how does your BD funnel change? Where is it today? Where are the focus? Is it diagnostic therapeutics, early later stage? What are you looking for now?

Question: Kelly McCarthy - Morgan Stanley - Analyst : So maybe on the financial side, Bob. And on this point, you've continued to heavily invest in the business, both internal and external R&D and some of these transactions we've been talking about. Have you been able to kind of manage the profitability profile of the business with this investment ongoing?

Question: Kelly McCarthy - Morgan Stanley - Analyst : And then how are you thinking about your capital deployment strategy more broadly? Have you thought about a buyback? Have you thought about other things?

Question: Kelly McCarthy - Morgan Stanley - Analyst : All right. Very good. I want to circle back on one point in terms of assets you brought in to the pipeline, and you've made some investments in the Alzheimer's disease diagnostics space. So can you discuss the opportunity set in Alzheimer's and particularly, what's the read-through from some of the recent pharma product approvals to what that space could look like?

Question: Kelly McCarthy - Morgan Stanley - Analyst : So is it fair to say the infrastructure of the industry is not necessarily there to meet the therapeutic opportunity today, and that's kind of the opportunity that's being built?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Okay. And then how do you think about PET imaging as opposed to blood-based tests for Alzheimer's?

Question: Kelly McCarthy - Morgan Stanley - Analyst : For sure. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2024 / 11:45AM, LNTH.OQ - Lantheus Holdings Inc at Morgan Stanley Global Healthcare Conference

Question: Kelly McCarthy - Morgan Stanley - Analyst : Good. So there's been a lot of strategic activity and a lot of investor focus on radiopharma more broadly as an area of focus. What's your competitive advantage? How do you maintain your position as a leader in the space? What excites you the most?

Question: Kelly McCarthy - Morgan Stanley - Analyst : I want to leave a few minutes for Q&A, but maybe one last question before we do that, which is you've made a couple of references to strategic partnerships in the arena and particularly with customers. Can you elaborate on the breadth of the contracting that you do with your customers? And what does that mean for your pricing and your long-term business outlook?

Question: Kelly McCarthy - Morgan Stanley - Analyst : Fantastic. Maybe I'll just open it up to the crowd and see if there's any Q&A. And there's a microphone in the back if anyone has any questions.

Question: Kelly McCarthy - Morgan Stanley - Analyst : Very intimidating at 7:45 AM. We'll give everybody a pass. But just Bob and Brian, any last words you want to share with the crowd and investors tracking along as you look at the next 12, 18 months, what are you looking forward to most and any parting words?