According to FortuneBusinessInsights, the global nuclear drug market is expected to increase from 8.4 billion US dollars in 2023 to 29.4 billion US dollars in 2030, with a compound annual growth rate of 20%, while the compound annual growth rate of the market in 2019-2023 is only 11%.

The rapid growth of the overall nuclear drug market will bring opportunities.

As RLT therapy continues to break through, the overall market growth rate of the nuclear drug circuit will accelerate, and clinical data on more targets and new nuclide drugs will be read in the future. Overall, I am optimistic about the long-term development of the racetrack.

With Pluvicto's success in later-line prostate cancer and continued advancement in the frontline, the product achieved sales of US$980 million in 2023, an increase of about 261% over the previous year, and the volume was very rapid.

As a product with peak sales expected to exceed 3 billion US dollars, the advent of Pluvicto shows the market potential for targeting RLT drugs, and has also enabled many pharmaceutical companies to lay out the RLT circuit and open a new chapter in nuclear medicine.

Compared with many biotechnology companies in the fields of ADC, antibodies, etc., nuclear drugs are more dependent on upstream. The main raw materials for radiopharmaceuticals are radioactive isotopes, and nuclear reactors are currently the main way to produce radioactive elements.

According to CITIC Construction Investment Securities research, due to the late development of nuclear technology, China mostly relies on imports for medical isotopes. Companies involved in the midstream layout of the nuclear drug industry chain are involved in all aspects of R&D, production and distribution of nuclide drugs.

Since radionuclides are radioactive and have characteristics such as specific half-lives, radiation decomposition, and instability that are different from other drugs, there are extremely high requirements for logistics distribution and radiopharmaceutical rooms.

Hong Kong Stock Related Companies for Nuclear Drugs:

China Tongshi (01763): A leading enterprise in China's nuclear medicine industry. Its radiopharmaceuticals business dominates the Chinese market, such as radiopharmaceuticals for imaging diagnosis and treatment. It is also the largest product manufacturer and supplier in the Chinese radiological source product market. It is the only domestic supplier of radiation source products such as cobalt [60Co] for irradiation and medical cobalt [60Co]. In October 2023, the new double helix tomography platform was officially mass-produced, filling the gap in localized production in the domestic high-end radiotherapy product market, marking a new situation for precise tumor treatment in China, and pioneering the independent production of a new type of intelligent double-helix tomography equipment in China.

Yuanda Pharmaceuticals (00512): In 2023, Telix Pharmaceuticals Limited (ASX: TLX), an important strategic partner in the field of radionuclide conjugated drugs (RDC), submitted a biological product marketing license application (BLA) for TLx250-cdx, a globally innovative RDC drug used to diagnose renal clear cell carcinoma (cCRCC) to the US FDA. TLx250-cdx is a globally innovative RDC drug for the diagnosis of cCRCC. It targets carbonic anhydrase IX (CA9), which is overexpressed in ccRCC and many other cancers.