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BTG re-rating still possible

BTG shares have taken a hit, but we're still believers in a re-rating possiblity for the healthcare group.
October 6, 2015

Shares in speciality pharma group BTG (BTG) lost 9.5 per cent following a half-year update. That might sound dramatic, but there's nothing new to know. As has been previously flagged, sales of the group's varicose veins treatment Varithena is struggling to gain traction in the US due to complications with insurers across the country and failings to fully reimburse physicians and hospitals for using the product.

IC TIP: Buy at 600p

Chief executive Louise Makin said full year group revenues should be in the lower half of the previous guidance range of £410m to £440m.