Biotest AG: Ad hoc ANNOUNCEMENT
Biotest AG / Key word(s): Profit Warning
28.04.2011 10:07
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc ANNOUNCEMENT
Announcement in accordance with Section 15 (1) of the German Securities
Trading Act (WpHG)
Dreieich, 28 April 2011. The Board of Management of Biotest AG has adjusted
its 2011 earnings targets for the Continuing Operations of the Biotest
Group but affirmed its sales goal. This is due to events at the subsidiary
Biotest Pharmaceuticals Corporation (BPC), Boca Raton, USA, where problems
with the automation and control software occurred upon the launch of the
new production system. As a result, production of the polyspecific
immunoglobulin BivigamTM will not begin until the second half of 2011, a
few months later than planned. Meanwhile, the processing of the application
for marketing authorisation for BivigamTM by the US Food and Drug
Administration continues to progress quickly and smoothly. The results of
inspections conducted so far have been positive and have generated no
concerns. Marketing authorisation for BivigamTM will nevertheless be
delayed, as data from consistency batches, which must be submitted before
authorisation is granted, will not be available until later in the year.
Due the extended idle time of the facility and the necessary repairs,
Biotest will incur additional expenses initially estimated at EUR7 to EUR8
million, which will have a negative impact on earnings.
Therefore, the previous goal of a 1% to 2% increase in EBIT over 2010 can
no longer be met.
Earnings performance is also subject to increased uncertainty in light of
further changes in prices for plasma proteins in some parts of the world.
Sales of the Biotest Group in Continuing Operations in the first quarter of
2011 totalled EUR106.5 million (2010: EUR102.8 million). In light of this
development, Biotest has affirmed its sales goal for 2011 (1% to 2% growth
over 2010 sales).
Biotest Aktiengesellschaft
The Board of Management
Biotest AG
Landsteinerstr. 5
63303 Dreieich, Germany
www.biotest.de
Disclaimer
This document contains forward-looking statements on overall economic
development as well as on the business, earnings, financial and assets
position of Biotest AG and its subsidiaries. These statements are based on
current plans, estimates, forecasts and expectations of the company and are
thus subject to risks and elements of uncertainty that could result in
significant deviation of actual developments from expected developments.
The forward-looking statements are only valid at the time of publication.
Biotest does not intend to update the forward-looking statements and
assumes no obligation to do so.
About Biotest
Biotest is a provider of pharmaceutical and biotherapeutic drugs as well as
reagents and systems for microbiology. With a value added chain that
extends from pre-clinical and clinical development to worldwide sales,
Biotest has specialised primarily in the areas of application of immunology
and haematology. In its Plasma Protein segment, Biotest develops and
markets immunoglobulins, coagulation factors and albumins based on human
blood plasma. These are used for diseases of the immune and haematopoietic
systems. In the Biotherapeutic segment, Biotest researches into the
clinical development of monoclonal antibodies, including in the indications
of rheumatoid arthritis and cancer of plasma cells. The products of the
Microbiological Monitoring segment are primarily used in hygiene
monitoring. Biotest has more than 1,900 employees worldwide. The preference
shares of Biotest AG are listed in the SDAX on the Frankfurt stock
exchange.
Securities' ID No., ISIN ordinary shares: 522720, DE0005227201
Securities' ID No., ISIN preference shares: 522723, DE0005227235
Listing: Prime Standard/Official traded
Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart
28.04.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.medientreff.de and www.dgap.de
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Language: English
Company: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Deutschland
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
E-mail: investor_relations@biotest.de
Internet: http://www.biotest.de
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart
End of Announcement DGAP News-Service
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