BTG ups revenue estimates

BTG, the specialist healthcare company, has upped its full year revenue guidance after a strong showing at its licensing & biotechnology business.

The firm is raising its revenue estimate for the year ended 31 March 2012 from a forecast of £160m-£165m to £190m-£195m.

The new figure reflects revised expectations of around £29m in royalties on inventories of blood clotting drug BeneFIX, following patent expiry in March 2011.

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The company also saw a strong performance from its prostate cancer treatment Zytiga,

Trading at BTC's specialty pharmaceuticals and interventional medicine business divisions had been in line with expectations, it added.

Chief Executive Louise Maki said the company had delivered a strong financial and operating performance across the business.

"Our development programmes are on track and we have made good progress in our interventional medicine business," she added.