(Yicai) Nov. 14 -- Novartis is poised to receive approval for its first radioligand therapy in China, marking a significant step for the Swiss pharmaceutical company as it intensifies its efforts in innovative cancer treatments in the Asian country.

A center of the National Medical Products Administration accepted the market application of the European drugmaker's Pluvicto (lutetium Lu 177 vipivotide tetraxetan), a targeted nuclear medicine for prostate cancer, the center's website showed yesterday. Additionally, the application for related diagnostic kits has also been accepted for review.

Radioligand therapy, an emerging form of cancer treatment, targets metastatic cancer cells while minimizing damage to healthy tissue. The therapy has potential applications in treating breast cancer and lung cancer, and is gaining increasing interest from major pharmaceutical companies. China included this novel technology in its priority review list in September.

Novartis, based in Basel, has actively promoted radioligand therapy over the past two years, positioning it as one of the company’s five major technological platforms in China. In July, Novartis began constructing a related factory in Zhejiang province, with an investment of CNY600 million (USD82.9 million), which is expected to begin operations by 2026. Novartis has initiated several clinical trials on radioligand therapy in China, partnering with GE Healthcare China, Shanghai Pharmaceuticals Holding, and C.Q. Pharmaceutical Holding to bring the treatment to market.

Radiopharmaceuticals are projected to reach a market size of around USD25 billion, according to data from Toronto-based RBC Capital Markets. By 2028, the combined global revenue from Novartis' two radioligand therapies is expected to reach USD5 billion.

Editor: Emmi Laine