BTG upgrades sales forecasts on back of strong oncology, vascular portfolio

Healthcare company BTG said it had delivered good first half sales growth, driven by the performance of its interventional medicine business as it upgraded its full year sales growth forecast in its oncology and vascular portfolio to 15-17%.

The forecast was a rise from its previous 13-15 percent forecast. BTG added that sales of its pharmaceutical products would be at the upper end of guidance of flat-to-single digit CER decline.

However, it added that it was looking at a partnership deal or sale of its lung therapy treatment PneumRx after the US Food & Drug Administration's decision in August 2018 not to give it pre-market approval application.

In a trading update chief executive Louise Makin said its varicose vein treatment Varithena was expected to become profitable during the 2019/20 financial year and to have peak sales potential in the “high tens of millions of dollars”.

She said the better than expected performance in Pharmaceuticals was driven by its DigiFab, Voraxaze, and CroFab products.

In a separate announcement, the company said chairman Garry Watts has retiring at the end of the year.