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BTG Plc Reiterates FY Product Sales Guidance; Acquires Roxwood Medical

BTG plc (BTG.L) reported that it has delivered a good performance in the first half of the year, with double-digit CER product sales growth. The Group reiterated its product sales guidance for the full year. Specialty Pharmaceuticals is expected to grow by low-to-mid single digits at CER, weighted as expected to the first half. Interventional Medicine is expected to deliver mid-to-high teens growth at CER, with higher growth in the second half.

The Group said licensing revenue in the first half has benefitted from back-royalties on Lemtrada and is now expected to decline over the full year by low double digits at CER versus the original guidance of a high-teens decline.

Separately, BTG plc announced it has acquired Roxwood Medical, a provider of advanced cardiovascular specialty catheters used in the treatment of patients with severe coronary and peripheral artery disease. BTG will pay up to $80 million in cash to acquire Roxwood, comprising $65 million paid on closing and up to an additional $15 million should certain future commercial milestones be achieved. The Group expects the transaction to be accretive to adjusted EPS from the second full year of ownership.

Roxwood's anchoring catheters (CenterCross, CenterCross Ultra, MultiCross) and microcatheters (MicroCross) offer options for physicians in the crossing of complex lesions and arterial blockages.

by RTT Staff Writer

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