BTG PLC Close Period Update (8178L)
06 October 2016 - 5:04PM
UK Regulatory
TIDMBTG
RNS Number : 8178L
BTG PLC
06 October 2016
BTG plc: close period update
London, UK, 6 October 2016: BTG plc (LSE: BTG), the specialist
healthcare company, announces the following update for the six
months to 30 September 2016 ahead of the publication of its Interim
Results on 15 November 2016.
On a constant currency basis, the business delivered
double-digit revenue growth during the period, in line with our
expectations, and the outlook for full year underlying revenue
growth remains unchanged. However, on the basis of current foreign
exchange rates, reported full year revenue is now anticipated to be
ahead of our previously announced guidance range of
GBP510m-GBP540m(1) .
Strong growth in Interventional Medicine revenues reflects
continued good performances from Interventional Oncology, which
included the first revenues from Galil Medical following its
acquisition in June 2016, and from EKOS. Varithena(R) revenue
reflects the gradual increase in customers and reorder rates during
the period, while PneumRx revenues are lower than last year,
reflecting the current interim reimbursement environment in
Germany.
Specialty Pharmaceuticals has delivered a good performance
across the portfolio. In Licensing there were good performances
from Zytiga(R) and Lemtrada(TM), whilst year on year growth was
held back by the one-off uplift of GBP8.5m in the prior period for
Zytiga(R) .
Louise Makin, BTG's CEO, commented: "We have had a strong first
half, delivering double-digit constant currency revenue growth as
we have continued to grow the business. The acquisition of Galil
Medical has strengthened and diversified our interventional
oncology portfolio, which also saw the US launch and approval in
Canada of our innovative visible bead LC Bead LUMI(TM). We
anticipate further progress in the second half of the year,
including the EU approval of DC Bead LUMI(TM), completing the US
PMA submission for the PneumRx(R) Coil and the launch in Canada of
Varithena(R) ."
For further information contact:
BTG
Andy Burrows, VP Corporate & Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530 605
Stuart Hunt, Investor Relations Manager
+44 (0)20 7575 1582; Mobile: +44 (0)7815 778 536
Chris Sampson, Corporate Communications Director
+44 20 7575 1595; Mobile: +44 7773 251 178
FTI Consulting
Ben Atwell/Simon Conway
+44 (0)20 3727 1000
About BTG
BTG is a growing international specialist healthcare company
bringing to market innovative products in specialist areas of
medicine to better serve doctors and their patients. We have a
portfolio of Interventional Medicine products to advance the
treatment of liver tumours, advanced emphysema, severe blood clots
and varicose veins, and Specialty Pharmaceuticals that help
patients overexposed to certain medications or toxins. Inspired by
patient and physician needs, BTG is investing to expand its
portfolio to address some of today's most complex healthcare
challenges. To learn more about BTG, please visit:
www.btgplc.com
(1) The guidance range of GBP510m-GBP540m was based on an
exchange rate of GBP1:$1.35
This information is provided by RNS
The company news service from the London Stock Exchange
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