BUNKER HILL, IN- Miami County Economic Development Authority announces Indianapolis-based radiopharmaceutical company SpectronRx has completed a major expansion at its campus near Grissom Air Reserve Base in Bunker Hill.
The company did not disclose its investment in the project, which included the acquisition of 14 additional acres and the construction of a new, 150,000-square-foot production facility.
SpectronRx recently completed a 150,000-square-foot facility in Bunker Hill. (Rendering courtesy of SpectronRx)
SpectronRx is a contract development and manufacturing organization that specializes in drug development, isotope production and other controlled manufacturing. The company said the additional space will allow it to take on more contracts for radiopharmaceutical production.
Radiopharmaceuticals are drugs that contain radioisotopes and are used to treat medical conditions, including some types of cancer and hyperthyroidism. According to Purdue University, the nuclear medicine market is a $6 billion industry in the U.S.—and Indiana’s nuclear medicine industries is one of the fast-growing in the nation.
CEO John Zehner said in a news release that demand for radiopharmaceuticals is rising faster than at any point in the industry’s history.
“Our expansion at Grissom Aeroplex ensures we can scale ahead of that demand,” Zehner said. “This campus was designed to serve millions of patients, support the most advanced radiopharmaceutical programs and give partners the confidence that capacity, quality and compliance will always keep pace with their growth.”
The company currently employs about 60 people at the Bunker Hill campus, located within the Grissom Aeroplex, and the expansion could add 50 jobs over the next two years.
“Our purpose is to enable our partners’ success at commercial scale,” said Anwer Rizvi, president of SpectronRx. “By dedicating our resources, facilities and expertise to their programs, we accelerate development, ensure reliable supply and deliver the manufacturing readiness required to serve patients worldwide.”
SpectronRx operates more than 400,000 square feet of radiopharmaceutical production space across its entire footprint, which includes facilities in Indianapolis, South Bend, Connecticut and Belgium.
In July 2025, at the request of the Indiana nonprofit industry group BioCrossroads, the U.S. Patent and Trademark Office officially designated Indiana as the “Radiopharmaceutical Capital of the World.”
