Biotest AG: Biotest continues to show a sales increase
Biotest AG / Key word(s): Quarter Results Biotest continues to show a sales increase - Sales at EUR 122.2 million (+2.9%) - Progress in CapEx program "Biotest Next Level" - Positive development in R&D projects
The Biotest Group also continued to expand its research and development activities in the first quarter of 2014. Biotest was able to make significant progress in various studies and clinical development during the first three months of the current financial year. In the first quarter 2014 the first patient was included as part of the phase I/II clinical trial of indatuximab ravtansine (BT-062) in solid tumours. Patients with triple-negative metastatic breast cancer (these tumours do not respond to treatment with oestrogen-, progesterone- or HER2- (Herceptin-2 receptors) based therapy) as well as patients with invasive bladder cancer are to be treated in this monotherapy study and the product is tested for its efficacy and tolerability. Costs increased considerably in this area as a result of the significant expansion of research and development work. Research and development costs amounted to EUR 17.2 million for the first quarter of 2014 compared to EUR 14.5 million in the comparable period in 2013. Nevertheless, we anticipate very strong sales in tender business in the second quarter, which will have a positive effect on sales and profit. The financial result amounted to EUR - 2.9 million (same period in the previous year: EUR - 0.8 million). The capital measures successfully implemented in the past financial year were particularly evident in this regard. The fully placed loan note of EUR 210.0 million, amongst other things, gave rise to an increase in interest bearing liabilities. Outlook: The three-months report is available on the company's website at http://www.biotest.de/ww/de/pub/investor_relations/publikationen/quartalsberichte.cfm 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 AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de Securities' ID No., ISIN ordinary shares: 522720, DE0005227201 End of Corporate News 07.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.medientreff.de and www.dgap.de |
Language: | English | |
Company: | Biotest AG | |
Landsteinerstraße 5 | ||
63303 Dreieich | ||
Germany | ||
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 News | DGAP News-Service |
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