BTG PLC Close Period Update (9134C)
October 04 2018 - 2:00AM
UK Regulatory
TIDMBTG
RNS Number : 9134C
BTG PLC
04 October 2018
BTG plc: close period update
Good first half performance, updating full year sales growth
guidance
London, UK, 4 October 2018: BTG plc (LSE: BTG), the global
healthcare company, provides the following update for the six
months ended 30 September 2018.
Louise Makin, BTG's CEO, commented:
"I am pleased to report positive momentum across all areas of
the business.
We have delivered good product sales growth during the first
half, driven by the performance of Interventional Medicine. With
the acquisition of Novate Medical and today's confirmation of our
commitment to Varithena(R) , we now have a multi-product Vascular
portfolio. As a result of the inclusion of Varithena(R) we are
updating our guidance for combined Oncology and Vascular CER(1)
product sales growth to 15-17% for the year. Pharmaceuticals
performed well in the first half and we now expect sales for the
year to be around the upper end of our guidance range.
By continuing to invest in product innovation, clinical data,
geographic expansion and acquisitions, we are developing leading
positions in attractive growth markets and creating significant
long-term value for shareholders."
Product sales
Interventional Medicine
The very good performance in Interventional Medicine was driven
by strong growth in TheraSphere(R) and the cryoablation products,
with good growth in EKOS.
BTG today confirms its commitment to Varithena(R) . Progress
since dedicated CPT reimbursement codes became effective in January
2018 has been positive. Varithena(R) is expected to become
profitable during the 2019/20 financial year and to have peak sales
potential in the high tens of millions of dollars. Its sales will
be included within the Vascular product sales line going forwards.
With the addition of Varithena(R) and Novate Medical to EKOS and
the Crossing Devices, BTG now has a multi-product Vascular
business.
Following the US Food & Drug Administration's decision in
August 2018 not to approve the Premarket Approval application, BTG
continues to review options for PneumRx, which include partnering
with or sale to a third party.
Pharmaceuticals
A better than expected performance in Pharmaceuticals was driven
by DigiFab(R) and Voraxaze(R) , with a good performance from
CroFab(R) .
Updated product sales guidance
CER product sales growth for the combined Oncology and Vascular
portfolios, including Varithena(R) , is now expected to be 15-17%
for the full year.
In Pharmaceuticals, following a good first half, BTG now expects
full year sales to be around the upper end of the guidance range of
flat-to-single digit CER decline.
BTG's Interim Results will be published on 13 November 2018.
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 (0)20 7575 1595; Mobile: +44 (0)7773 251 178
FTI Consulting
Ben Atwell/Simon Conway
+44 (0)20 3727 1000
About BTG
BTG is a global healthcare company focused on Interventional
Medicine. Our innovative medical technology helps physicians treat
their patients through minimally invasive procedures. We have a
growing portfolio of products that advance the treatment of cancer
and vascular conditions. BTG's Pharmaceuticals business provides
products that help patients overexposed to certain medications or
toxins. To learn more about BTG, please visit: btgplc.com.
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END
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