Lantheus Holdings Appoints Chief Commercial Officer

Lantheus Holdings Inc., parent company of Lantheus Medical Imaging Inc., a developer, manufacturer, and commercializer of diagnostic imaging agents and products, has appointed Paul Blanchfield as chief commercial officer. In his role, Blanchfield will report directly to Lantheus President and CEO Mary Anne Heino.
 
“With his extensive operational experience and deep expertise in commercializing rare disease products, Paul will be a valuable addition to our executive leadership team as we execute our long-term growth strategy,” said Heino. “Following the recent appointment of Dr. Istvan Molnar as chief medical officer, the addition of Paul to our team further enhances our exceptional expertise in complex manufacturing, supply chain and commercial excellence. We look forward to working with Paul and the rest of our team as we continue the exciting momentum we have generated as we focus on building sustainable, long-term shareholder value.”
 
Blanchfield joins Lantheus from Takeda Pharmaceutical Co., where he served as the head of the U.S. Immunology Business Unit and managed a multi-billion dollar P&L covering multiple rare diseases products. Prior to his time at Takeda, Blanchfield served in several different roles at Shire Plc across almost six years, including as the head of U.S. Immunology, general manager of Nordic-Baltics, head of Corporate Strategy, and chief of staff to the CEO. In his time at Shire, Blanchfield launched multiple products, worked across nine different countries, oversaw a restructuring to increase commercial focus and reduce costs, and led efforts in M&A, corporate defense, integration, and long-term corporate and portfolio strategy. Prior to his time at Shire, Blanchfield worked at McKinsey & Company for five years, where he focused on healthcare, marketing, and sales.

Blanchfield earned an MBA/MA in education from Stanford University and an AB in economics from Duke University.
 
Lantheus recently released fourth-quarter 2019 and full-year results, reporting worldwide revenue of $89.3 million and $347.3 million for the fourth quarter and full year 2019, representing an increase of 3.6 percent and 1.2 percent over the prior year period, respectively. Net income was $10.5 million and $31.7 million for the fourth quarter and full year 2019, representing a decrease of 21.4 percent and 21.8 percent from the prior year period, respectively.
 
GAAP fully diluted EPS was 26 cents and 79 cents for the fourth quarter and full year 2019, representing a decrease of 22.6 percent and 23 percent from the prior year period; adjusted fully diluted EPS of 34 cents and $1.17 was reported for the fourth quarter and full year 2019, representing an increase of 19 percent and 3.5 percent over the prior year period, respectively.
 
Net cash provided by operating activities was $22.4 million and $80.4 million for the fourth quarter and full year 2019. Free cash flow of $17.7 million and $58.3 million for the fourth quarter and full year 2019, representing an increase of 77.9 percent and 42 percent over the prior year period, respectively.