Healthcare specialist BTG hails strong year

International healthcare company BTG has reported “strong progress” over the last year, particularly in interventional medicine.

The FTSE 250 company, which specialises in commercialising products that target critical care, cancer and vascular disease, has reiterated its revenue guidance of between £275m to £285m for the current financial year ending 31 March.

During the period from 1 October to 28 January, BTG started selling two products used as part of treating liver tumours, made by LC Bead and TheraSphere.

It also saw sales numbers for EKOS Corporation's devices used to treat severe blood clots grow.

Both TheraSphere and EKOS were acquired by BTG in 2013.

The firm also highlighted securing US regulatory approval for Varithena - a product used to treat varicose veins.

Louise Makin, chief executive, said:

The acquisitions of TheraSphere and EKOS Corporation, together with the recent approval of Varithena, give us the platform to become a commercial and scientific leader in Interventional Medicine.

With the continued strong financial underpin from our Specialty Pharmaceuticals and Licensing segments, we will continue to execute our commercial and development plans to deliver sustainable and profitable long-term growth.

Yesterday JP Morgan reiterated its “overweight” rating on BTG stock, and analysts at Deutsche Bank raised their price target on shares last week - they now have a “buy” rating on stock.