BTG exudes confidence ahead of final reuslts

Specialist healthcare company BTG was confident ahead of its final results on Tuesday, claiming reported group revenue for the year to 31 March was expected to be at the upper end of its guidance range of £410m-£440m, boosted by currency tailwinds.

The growth at the FTSE 250 company was largely driven by its interventional medicine division, with revenue growth at constant currency in interventional oncology in line with its annual average mid-teens guidance.

Its interventional vascular sales also reportedly grew strongly, while its varicose veins treatment Varithena and interventional pulmonology business PneumRx saw sales remain largely flat.

Following two years of 20% growth, BTG’s specialty pharmaceuticals business delivered more typical single-digit growth during the year, the company said.

BTG’s licensing division saw good revenue growth, as a result of increased royalties from Sanofi/Genzyme's Lemtrada product following its US approval for the treatment of multiple sclerosis, and higher revenues from Johnson & Johnson’s Zytiga treatment for advanced prostate cancer.

"I am pleased with our performance during the year and the significant milestones we have achieved,” said CEO Louise Makin.

“We are successfully implementing our growth strategy by reinvesting the cash generated from our specialty pharmaceuticals and licensing businesses into our interventional medicine portfolio, where we are building momentum and establishing BTG as a world leader.”

BTG’s board was due to publish its final results on 17 May.