BTG swings to loss on Protherics acquisition
Specialty pharmaceuticals company BTG swung to loss in the 12 months to March 31, 2009, on its acquisition of fellow UK firm Protherics. The company generated GBP84.8 million ($12.9 million) in revenue, up 13% on the year-before period. R&D costs rose 67% to GBP21.6 million as the firm took on a number of Protherics programs. The company's net loss was GBP13.1 million, or 7.1 pence per share, versus a profit of GBP8.8 million, or 5.9 pence per share.
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