Australian Healthcare "Healthcare Daily: News, research & industry feedback" Low

Research evidence excerpt

Australian Healthcare "Healthcare Daily: News, research & industry feedback" Low

is precedent for off-label imaging. Older, frail patients not well suited to biopsy in

potential category.

Resistance of reduced biopsy on financial groups likely limited. While

biopsy is a common procedure for urologists, it is relatively lower value/margin

versus other services. Clinics able to offer imaging services would likely benefit if

PSMA PET imaging increases.

Clinicians are likely to be radiotracer agnostic. TLX would have an initial

advantage if it received regulatory approval and reimbursement coverage.

However, over time clinicians are likely to use their preferred PSMA PET agent off

label in this indication.

Copper-64 opportunity is mixed. To be successful, it needs to offer a major

operational advantage over existing agents. A 13-hour half-life provides logistical

and next-day imaging advantages, but also introduces new scheduling challenges.

No clear leader in the space and utility likely to be limited to rural & remote areas

where the extended half-life would overcome logistical headwinds.

UBS View: Confidence the BiPASS study will deliver positive results was clearly

encouraging suggesting a high probability of a boost to future demand growth for

Telix's PSMA PET agents. However widespread change in clinical practice will take time

meaning material financial benefits are not likely before 2029. We are comfortable

recruitment is on track given recent public CEO comments.

News and press releases

RHC -"Private health bosses call for gold cover overhaul as members bail" (AFR, 16 Jun)

UBS View: Executives from private hospitals and private insurance have called out the

challenges facing the system with PHI membership downgrading likely to increase and