BTG raises revenue forecasts

BTG, the specialist healthcare company, said it had outperformed in the first half and was boosting its revenue expectations for the full year.

The firm said is raising its revenue estimate for the year ending March 31st 2013 from £190m-£200m to £205m-£215m after a strong first half performance and a positive outlook for the second.

Trading during the six months to the end of September was ahead of expectations, driven principally by high demand for its snake anti-venom CroFab.

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It also saw a strong start from post-chemotherapy drug Voraxaze following its US nationwide launch at the end of April 2012

Among other products, it also noted the continued growth of royalties from Johnson & Johnson's prostate cancer drug Zytig.

First half revenue also included £5.4m of additional deferred income relating to a previous licence agreement that had been fully following AstraZeneca's decision axe development of CytoFab, nn experimental treatment for severe sepsis that failed in trials.