Lantheus stock rocketed to a 13-month high Wednesday after a Medicare proposal suggested hiking the reimbursement rate for diagnostic radiopharmaceuticals.
North Billerica, Mass.-based Lantheus Holdings (LNTH) makes diagnostics and drugs using radiopharmaceutical technology.
Oftentimes, the Centers for Medicare and Medicaid Services packages the cost for a diagnostic in this space with the drug. But that doesn't always adequately account for the cost of certain specialized tests, CMS said in its proposal. The agency proposes paying separately the cost of any diagnostic radiopharmaceutical that costs more than $630 a day.
"This update should address challenges for patients in assessing these prescribed nuclear medicine tests with higher-cost radiopharmaceuticals," the agency said.
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