Telix Pharmaceuticals (ASX:TLX) has joined a somewhat quiet cohort of ASX biotech companies having a pretty good run lately, in some cases outperforming just about everything else.

(Just think: Mesoblast, Orthocell, Clarity Pharmaceuticals, Botanix… finally, it isn’t just CSL.)

The $9.7B market-capped Telix hasn’t been immune either, despite its far greater exposure to liquidity. Just before lunch on Tuesday, Telix shareholders were staring down 1Y returns of just over +151% as the price hit just shy of $29/sh.

Tuesday’s jump comes after it completed its acquisition of the U.S.-based privately held RLS Radiopharmacies, “America’s only Joint Commission- accredited radiopharmacy network distributing PET, SPECT and therapeutic radiopharmaceuticals,” according to Telix.

(For the uninitiated: radiopharma stocks produce the agents injected into the body that thereafter make radiation-based imaging of the human body and organs possible.)

That Telix staged a 5% jump on Tuesday is also a testament to bullish shareholder psychology in the face of the US$230 million price tag coughed up for RLS – which, given strength in the Aussie biotech sector, could be either seen as expensive or cheap depending on how you look at it.

(Telix’s ADIs on the Nasdaq composite were down over 1.3% overnight, but Wall Street also got destroyed by AI panic overnight.)

“The addition of RLS’s operations will significantly strengthen Telix’s commercial infrastructure and distribution capabilities in its largest market … enabling standardized, high-efficiency and cost-effective production of radiometals,” the company wrote.

“The RLS footprint of over 100,000 square feet of appropriately licensed expansion space provides the opportunity to build a next-generation radiometal production network to benefit Telix, select commercial partners, and patients.”

RLS will continue to operate as if it hadn’t been purchased but now sits on Telix’s books.

There is one big unknown: What impact Trump’s pick, RFK, will have on the U.S. healthcare sector in the weeks and months ahead. But if the markets are worried, that isn’t obvious.

TLX last traded at $28.98/sh.

Join the discussion: See what HotCopper users are saying about Telix Pharmaceuticals and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.