BTG plc: Close Period Update
London, UK, 6 October 2014: BTG plc (LSE: BTG), the specialist healthcare company, provides the following trading update for the six months ended 30 September 2014 ahead of the publication of its Interim Results on 11 November 2014.
As a result of a good overall first half performance across the business, BTG now expects full year revenues will be around the top end of its guidance range of £330m to £345m, despite adverse foreign exchange movements.
Within Interventional Medicine, there has been continued good growth in the TheraSphere® and EKOS products, acquired in July 2013, which are used in the treatment of liver cancer and blood clots respectively. DC Bead® was approved in China for the embolisation of malignant hypervascularised tumours, and commercial launch preparations are under way. In addition, following the commencement of the controlled launch in the US reimbursed sector of Varithena®(polidocanol injectable foam), BTG’s new treatment for varicose veins, the first commercial sales were recorded in August 2014.
Specialty Pharmaceuticals has delivered a strong performance, reflecting the continued growth of DigiFab®, the digoxin overdose product, and Voraxaze®, which is used for high-dose methotrexate toxicity, and a steady performance from the antivenin CroFab®. Licensing revenues have also increased owing to continued growth in royalties from Johnson & Johnson’s treatment for advanced prostate cancer, Zytiga® (abiraterone acetate).
Louise Makin, CEO of BTG, commented:
“We have made good progress across the business during the first half of the year. We are pleased with the controlled US launch of Varithena®, with great feedback from customers and sales building gradually, in line with our expectations. The TheraSphere® and EKOS businesses we acquired last year are showing good growth, while the Specialty Pharmaceuticals and Licensing segments also delivered solid performances. We enter the second half of the year confident of continuing this strong momentum.”
For further information please contact:
Andy Burrows, VP Corporate and Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530605
Stuart Hunt, Investor Relations Manager
+44 (0)20 7575 1582; Mobile: +44 (0)7805 354134
Ben Atwell/Simon Conway
+44 (0)20 3727 1000