BTG PLC Close Period Update (7162B)
April 06 2017 - 1:00AM
UK Regulatory
TIDMBTG
RNS Number : 7162B
BTG PLC
06 April 2017
BTG plc: close period update
London, UK, 6 April, 2017: BTG plc (LSE:BTG), the specialist
healthcare company, provides the following update for the year
ended 31 March 2017 ahead of the publication of its Final Results
on 16 May 2017.
Louise Makin, CEO of BTG, commented: "Our business has performed
well this year. We have made significant progress in executing our
strategy to become a leading provider of Interventional Medicine
therapies. We have expanded the portfolio both organically and
through acquisition and have delivered good revenue growth. A
strong performance from TheraSphere(R) and the addition of Galil
Medical have helped cement our leadership in Interventional
Oncology. EKOS has continued to increase market penetration, and we
have achieved important milestones in our earlier stage businesses.
There is good momentum across our business and we start the new
financial year with confidence."
Revenue is expected to be at or above the upper end of the
guidance range of GBP535m - GBP565m.
Strong growth in Interventional Oncology primarily reflects the
continued expansion of TheraSphere(R) in the US and EU,
supplemented by revenues from Galil Medical, which is delivering in
line with expectations following its acquisition in June 2016.
During the year TheraSphere(R) was approved in a number of
territories including South Korea, Malaysia and Mexico, and DC Bead
LUMI(TM) received its CE mark to become the first commercially
available radiopaque drug-eluting bead in the EU.
In Interventional Vascular, continued high growth in EKOS
revenues results from an increase in the number of US hospitals
using the products and strong growth in pulmonary embolism (PE)
treatments. A new control unit that is optimised for treating PEs
received 510k approval in the US at the end of the period.
Varithena(R) sales have increased over the year in response to
market access initiatives, and there has been good progress towards
establishing new reimbursement codes that will cover the use of
Varithena(R) , which are expected to be implemented in January
2018.
Revenue from PneumRx, the early stage Interventional Pulmonology
business, is lower than in the prior year, primarily as a result of
a reduction in procedures in Germany, the largest market.
Resumption in growth is anticipated when the new criteria to enable
physicians to identify patients who are most likely to respond to
treatment become established, and following the conclusion of the
current processes in Germany and France to determine national
coverage and reimbursement. The rolling Pre-Market Authorisation
submission has been completed in the US and the file is now being
reviewed by the Food and Drug Administration.
Higher Specialty Pharmaceuticals revenues result from good
performances from CroFab(R) , DigiFab(R) and Voraxaze(R) .
Licensing revenue is expected to reflect higher Lemtrada(TM)
royalties and a continued good performance from Zytiga(R) .
For further information contact:
BTG FTI Consulting
Andy Burrows, VP Corporate & Investor Relations Ben Atwell /
Simon Conway
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530 605 +44 (0)20 3727
1000
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
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, severe blood clots, varicose veins and
advanced emphysema, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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