Specialist pharmaceutical group BTG (BTG) saw its shares rise 9 per cent on the back of these robust looking half-year figures - indeed, add back acquisition adjustments and reorganisation costs, and underlying operating profits rose 45 per cent to £59.5m. Moreover, strong cash flow from its existing drugs should support new product development.
IC TIP:
Hold
at
359p
Revenue from its existing drugs grew strongly in the period - with rattlesnake serum CroFab having boosted sales 23 per cent to £50.5m, while heart medicine DigiFab saw sales jump 29 per cent to £11.5m. Moreover, BTG's renal treatment drug, Voraxaze, was commercially launched in the US in April, while favourable exchange-rate movements meant a £0.5m gain