BTG's fiscal 2005/06 income rises 31%

London, UK-based drugmaker BTG says that, for the fiscal year ended March 31, 2006, its revenue grew 31% on the prior year to reach L50.2 million ($97.2 million), reflecting strong growth in recurring royalties and litigation settlements. The strong showing saw the company hit profit before tax of L1.5 million from last year's L34.8 million loss.

The firm noted that turnover net of revenue sharing rose 31% to L29.5 million while additional gains from sale of patents and investments totaled L7.4million, a significant increase over last year's L1.2 million. During the period, R&D expenses fell 45.8% to L9.1 million, reflecting lower expenses related to Varisolve, BTG's novel microfoam sclerosant treatment for varicose veins.

BTG's Campath (alemtuzumab), which is indicated for the treatment of B-cell chronic lymphocytic leukemia and marketed by US biotechnology major Genzyme, saw expanding sales as a third-line treatment for CLL and the UK firm hopes that future turnover may be significant should Genzyme's development activities allow for it to be used in second and first-line CLL or in multiple sclerosis.