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London, UK, 13 July 2017
BTG plc (LSE: BTG), the global specialist healthcare company, provides the following update ahead of its Annual General Meeting, which is being held today at 10.30am at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London, EC2M 7SH.
At the meeting, the Board will comment on the performance of the Group in the year ended 31 March 2017, as detailed in the results announcement on 16 May 2017, and describe progress made in the current financial year to date.
Louise Makin, Chief Executive Officer, commented: "Our strong performance in 2016/17 has continued into the new financial year. We are on track to achieve double-digit product sales growth over the full financial year, driven by growth in our Interventional Medicine business. We reported positive outcomes from two EKOS clinical studies in the first quarter and we anticipate further progress across the portfolio over the full year, including reaching important milestones for Varithena® and the PneumRx® Coils. We will continue to implement our growth strategy, to deliver double-digit annual product sales growth and margin expansion over time whilst investing selectively in innovation and development, commercial and geographic expansion and acquisitions to ensure sustainable long-term value creation."
Trading since 1 April 2017 has been in line with the Board's expectations and guidance for the full year is unchanged. There were strong performances from TheraSphere®, the liver cancer treatment, and EKOS®, the blood clot treatment device. Varithena continues to make progress ahead of the publication of new reimbursement codes expected towards the end of the year. The antivenin CroFab® made a good start to the new snakebite season and there was a good performance from Voraxaze®, used to treat methotrexate toxicity in patients with impaired renal function.
There was also good operating progress. Positive data were reported from two clinical studies using EKOS®. The OPTALYSE study demonstrated the safety and efficacy of shorter, lower-dose EKOS® therapy for pulmonary embolism, and the ACCESS PTS study demonstrated the safety and efficacy of an EKOS® therapy treatment regimen for post-thrombotic syndrome.
A pilot study showed sustained quality of life at regular intervals throughout three months in patients treated with TheraSphere® using IO Loop™, a novel data collection tool that helps patients better engage in their own healthcare and measures quality of life and satisfaction rates across the course of their treatment.
In June 2017, the Society of Interventional Oncology and BTG announced their 2017 interventional oncology/immuno-oncology grant recipients. This research grant programme funds initiatives that evaluate how interventional oncology therapies stimulate the immune system and how they might combine with immunotherapy approaches to improve clinical outcomes.
Work continues to progress the Premarket Approval application in the US for the PneumRx®Coils, and in Europe coverage/reimbursement determinations continue in Germany and France.
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.
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