Chief Executive Officer’s Strategic report

Chief Executive Officer’s Strategic report

Chief Executive Officer’s Strategic report

A year of strong progress

BTG has executed its strategy effectively this year, achieved significant milestones and delivered another strong financial performance.

The healthcare environment continues to evolve, as society seeks to balance demands for access to medical innovation against the increasing costs of delivering better care. BTG is well placed to respond to  this challenge. Over the past six years we have built a portfolio of image-guided minimally invasive therapies that have the potential to improve patient outcomes and experiences while reducing overall healthcare expenditure.

How this links to our strategy

There are few companies operating in the world of interventional medicine like BTG. We focus on providing novel technologies that can transform the way certain diseases are treated. Since entering this  space in 2011, we have built the capabilities and the entrepreneurial culture that we believe will enable us to succeed in the innovation-led markets where we operate.

Our products are often administered in a dedicated procedure by specialist physician customers who we serve through small, highly skilled sales and medical teams. With the cash we generate, we invest in product innovation and clinical trials, enabling us to maintain technology leadership and to demonstrate patient benefits and cost effectiveness. This ensures we can achieve regulatory approvals, market adoption, payer coverage and the appropriate value for our products. We are also expanding our geographic reach and optimising our commercial activities in all territories.

These investments are designed to deliver sustainable double-digit product sales growth and increasing operating margins over time. We also have the financial flexibility to accelerate and de-risk our growth strategy by continuing to explore opportunities to expand our portfolio and pipeline through acquisition and inlicensing activities.

By focusing on the needs of our customers and their patients, and delivering innovative solutions to their complex medical problems, we will achieve our vision and become a global leader in the field of interventional medicine therapies.

Building positive momentum

We have made strong progress during the year in implementing our growth strategy, achieving key objectives in geographic expansion, product innovation, clinical studies and portfolio growth.

We continued to enhance our presence in selected markets in Asia, where we see significant long-term growth opportunities, with the launch of TheraSphere® in South Korea and Malaysia. We gained EU and Canadian approval for the first visible chemoembolising bead for liver cancer. In the US and EU our new EKOS control unit received regulatory clearance.

Our Interventional Oncology portfolio expanded through the acquisition of Galil Medical, a leader in cryoablation technology. This deal was completed in June 2016 and growth through acquisition remains a key part of our strategy, as we continue to monitor opportunities of potential interest.

The earlier stage Interventional Medicine businesses achieved important milestones. A Premarket Approval application was submitted in the US for our PneumRx® Coils, which are for treating severe emphysema. In the EU, positive assessments in Germany and France are expected to support national coverage in both countries.

Varithena®, the treatment for varicose veins, made progress towards receiving dedicated reimbursement codes in the US, which we anticipate will be implemented in January 2018.

The cash we generate in our Specialty Pharmaceuticals and Licensing businesses enables us to make investments and build leadership positions in Interventional Medicine. Licensing is no longer an active part of our strategy, whereas Specialty Pharmaceuticals, through which we provide potentially life-saving antidote treatments, remains a core part of BTG’s business. We remain open to expanding this portfolio through acquisition or in-licensing.

 

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Dame Louise Makin
Chief Executive Officer

 

  • Leadership

    Our Leadership Team has a broad range of experience and is responsible for managing the business on a day‑to‑day basis. Our Board of Directors come from a wide range of backgrounds enabling us to access a broad knowledge base.

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