October 05, 2017
BTG plc: close period update
London, UK, 05 October 2017
BTG plc (LSE: BTG), the global specialist healthcare company, provides the following update for the six months ended 30 September 2017 ahead of publication of its Interim Results on 14 November 2017.
BTG has delivered a good performance in the first half of the year, with double-digit CER1product sales growth.
The Group reiterates its product sales guidance for the full year. Specialty Pharmaceuticals is expected to grow by low-to-mid single digits at CER, weighted as expected to the first half. Interventional Medicine is expected to deliver mid-to-high teens growth at CER, with higher growth in the second half.
Licensing revenue in the first half has benefitted from back-royalties on Lemtrada™ and is now expected to decline over the full year by low double digits at CER versus the original guidance of a high-teens decline.
There is good momentum across the business with significant progress achieved during the period.
In Interventional Medicine, significant progress has been made in generating clinical data to support the expanded use of the oncology and EKOS products. Recruitment was completed in STOP-HCC, the phase III trial of TheraSphere® in primary liver cancer, which is on track to report data in 2019. There were positive results from two studies of EKOS. OPTALYSE PE showed that pulmonary embolism can be treated more quickly with an improved safety profile compared with the standard treatment protocol, and ACCESS PTS showed that EKOS therapy was safe and effective in treating post-thrombotic syndrome in patients with chronic deep vein thrombosis, the first step for BTG in expanding treatment to this patient population. BTG and the Society of Interventional Oncology also formed and expanded a collaboration in which BTG is providing research grants for studies to explore the combination of BTG’s locoregional therapies with immuno-oncology therapies.
BTG has continued to make progress with Varithena® and the PneumRx® Coils. New CPT reimbursement codes have been designated covering the use of Varithena® in the US, with final code values expected to be confirmed in November 2017 ahead of implementation in January 2018. Dialogue continues with the US FDA to progress the premarket approval (PMA) application for the PneumRx® Coils and activities continue to expand reimbursement in the EU.
In Specialty Pharmaceuticals, data published in the Annals of Emergency Medicine showed that administering CroFab® to patients envenomated by copperhead snakes can aid the recovery of their affected limb function.
As announced on 20 September 2017, the Court of Chancery of Delaware ruled against BTG in its litigation with Wellstat Therapeutics Corporation concerning the commercialisation of Vistogard®. BTG is considering options, which include appealing the ruling and level of damages awarded.
BTG has today separately announced the acquisition of Roxwood Medical, an innovative provider of advanced cardiovascular specialty catheters used in the treatment of patients with severe coronary artery disease and severe peripheral arterial disease.
1 At constant exchange rates. In 2016/17 the average £:US$ rate was £1:$1.31.
For further information contact:
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
Ben Atwell/Simon Conway
+44 (0)20 3727 1000
BTG is a global 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 cancer, severe 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: btgplc.com.