PARIS, France: Radiopharmaceutical company Curium has agreed to acquire Lantheus Holdings in a deal worth up to US$8 billion, expanding its presence in one of the fastest-growing areas of cancer diagnostics and treatment.

The agreement, announced on August 3, comes as radiopharmaceuticals, which use radioactive compounds to diagnose and treat diseases such as cancer, continue to attract significant investment and dealmaking across the healthcare industry.

Under the terms of the transaction, Lantheus shareholders will receive $102.50 per share in cash when the deal closes, along with rights to receive up to an additional $12 per share if certain sales targets are achieved by 2030.

The maximum consideration of $114.50 per share represents a premium of about 14.9 percent over Lantheus' last closing price of $99.64. Shares of Lantheus rose more than 2 percent in morning trading.

"The $102.50 upfront is a fair price but not a generous one," said B. Riley Securities analyst Yuan Zhi, adding that the headline offer was below where many investors had positioned.

Lantheus had been viewed as a potential takeover target for months. Bloomberg News reported in May that the company was considering a sale after receiving an offer from Curium valuing it at about $7 billion.

Jones Trading analyst Justin Walsh said the transaction could face "relatively high regulatory scrutiny" because both companies are major players in diagnostic radiopharmaceuticals.

The deal follows a series of acquisitions in the sector in recent years, including Bristol Myers Squibb's roughly $4.1 billion acquisition of RayzeBio, AstraZeneca's acquisition of Fusion Pharmaceuticals for up to $2.4 billion, and Eli Lilly's roughly $1.4 billion acquisition of Point Biopharma.

Lantheus develops diagnostic imaging agents used to detect cancer and other diseases. Its flagship product, Pylarify, is a prostate cancer imaging agent used in PET scans that employ radioactive tracers to help doctors identify signs of the disease.

Curium, which is backed by private equity firm CapVest Partners, develops and supplies radiopharmaceuticals for both diagnostic imaging and treatment.

The acquisition will be financed through a combination of debt and equity and is expected to close in the first half of 2027.