Telix Pharmaceuticals has seen its shares jump nearly 6 per cent following the announcement that its prostate cancer imaging product, Gozellix, has been granted a permanent code by the US Centers for Medicare & Medicaid Services (CMS). The change will take effect from October 1. Telix Pharmaceuticals is a biopharmaceutical company focused on developing diagnostic and therapeutic products based on molecularly targeted radiation. Their products aim to address unmet needs in oncology and other medical conditions.
According to Telix, securing this Healthcare Common Procedure Coding System (HCPCS) code represents a major advancement in the company’s objective to enhance access to precision medicine imaging for prostate cancer patients throughout the United States. The company emphasises that this access will be available irrespective of a patient’s geographical location.
Kevin Richard, who leads the development of diagnostics, global marketing, and commercial operations for Telix in the US and Canada, stated that this code is a significant step forward for the company. The approval is expected to streamline the reimbursement process for Gozellix, potentially leading to wider adoption of the imaging product by healthcare providers across the country.
The permanent code from CMS is anticipated to improve the affordability and accessibility of Gozellix for Medicare beneficiaries diagnosed with prostate cancer. This development underscores Telix’s commitment to innovation in the field of oncology diagnostics and its dedication to improving patient outcomes.
