The disclosed subject matter includes methods of preparation, properties, pharmaceutical compositions and methods of therapy of sulfonated chlorins and bacteriochlorins designed for the photodynamic therapy (PDT) of hyperproliferative tissues such as tumors, hyperproliferative blood vessels and other disorders or abnormalies that are responsive to PDT. In particular, the economical large-scale synthesis of stable chlorins and bacteriochlorins is described. Their properties were tailored to meet those of ideal photosensitizers for PDT. In another embodiment, pharmaceutical compositions and methods of therapy for systemic administration are provided. In a further embodiment, pharmaceutical compositions and methods of therapy for topical administration are also provided. Further provided is a method of labeling a target tissue and providing an image of that tissue by fluorescence of magnetic resonance imaging.