Jubilant Draximage Inc., a subsidiary of company's wholly owned subsidiary Jubilant Pharma Limited, announced an investment of US$ 50 million to expand its PET radiopharmacy network by adding six (6) PET radiopharmacies in strategic locations throughout the United States. The new PET radiopharmacies shall be operational by Financial Year 2027-28. 

The US radiopharmaceutical industry is poised to grow from US$ 5 billion in 2023 to US$ 20 billion in 2030 due to the increasing demand of PET imaging and advance radiopharmaceutical therapies. The growth in the PET imaging market is fueled by new products such as diagnostic agents indicated for positron emission tomography (PET) of prostatespecific membrane antigen (PSMA) positive lesions in men with prostate cancer and novel diagnostics that reliably visualize β-amyloid neuritic plaques for more personalized patient management in adult patients with cognitive impairment who are being evaluated for Alzheimer's Disease (AD) and other causes of cognitive decline. 

This investment will expand the company's PET radiopharmacy network to nine (9) sites and overall radiopharmacy network to fifty two sites, solidly positioning Jubilant's radiopharmacy network as the second largest in the US. 

Speaking on the announcement, Harsher Singh, CEO, Jubilant Radiopharma business said, "This investment shall help us meet increasing demand of novel PET products from our customers. With a much stronger PET radiopharmacy network, we also expect to secure long-term contracts with leading PET radiopharmaceutical manufacturers. We remain committed to improve patient lives through nuclear medicine."