Novartis (NVS) Announces Plans to Establish a New Radioligand Therapy Manufacturing Site in Denton, Texas

Novartis AG (NYSE:NVS) is one of the top gene therapy stocks to buy according to hedge funds. Novartis AG (NYSE:NVS) announced on February 25 plans to establish a new 46,000-square-foot radioligand therapy manufacturing site in Denton, Texas. It stated that the purpose-built RLT site would mark the company’s fifth in the United States and first manufacturing facility in Texas, and reflects further progress in its $23 billion US investment. Construction is scheduled to begin in 2026, and the site is anticipated to become fully operational in 2028.

Novartis AG (NYSE:NVS) further stated that the new site is expected to create new jobs in advanced manufacturing, bioengineering, quality, and operations, supporting economic growth in Denton and surrounding communities. Vas Narasimhan, CEO of Novartis AG (NYSE:NVS), stated that RLT holds the potential to revolutionize cancer care and that the addition of a fifth RLT manufacturing site in the United States bolsters the company’s ability to meet growing demand and build the capabilities needed to deliver these next-generation treatments with the required speed and precision.

Headquartered in Basel, Switzerland, Novartis AG (NYSE:NVS) develops, markets, and manufactures a range of healthcare and pharmaceutical products, and is also involved in immuno-oncology research. Its operations span the Innovative Medicines, Sandoz, and Corporate segments.

While we acknowledge the potential of NVS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.