Biotest AG: Biotest records sales of 115 million euros in the first quarter of 2022
News: Biotest AG / Key word(s): Quarter Results
- EBIT increase compared to the first quarter of 2021
- EBIT includes Biotest Next Level expenses of € -20.3 million
- Biotest signs license agreement for its novel immunoglobulin (IgG Next Generation)
Influenced by a worldwide increase in demand for immunoglobulins, while the pandemic situation remained difficult, Biotest was able to increase its revenues, especially of Intratect®, Biotest’s standard immunoglobulin, significantly above the previous year.
EBIT for the first quarter of 2022 amounted to € -5.0 million and was thus significantly above the previous year’s figure (same period of the previous year: € -9.3 million). In the current year, this includes expenses for the Biotest Next Level project in the amount of € 20.3 million (same period of the previous year: € 18.5 million). The increase in EBIT compared to the first quarter of 2021 is mainly due to the € 3.2 million increase in gross profit.
The Biotest Group’s result after taxes for the first quarter of 2022 increased to € - 4.9 million after € - 14.1 million in the same quarter of the previous year.
With the support within the framework of the granting of research and development allowances totalling € 29 million by the Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung BMBF) and the German Federal Ministry of Health (Bundesministerium für Gesundheit), Biotest is continuing the development programme for the development candidate Trimodulin in severe COVID-19 disease. Another phase III trial with Trimodulin in patients with severe community-acquired pneumonia is planned to start later this year.
In addition, Biotest intensified its efforts in the first quarter to be able to bring product candidates in the late clinical phase, such as Fibrinogen Concentrate and Trimodulin, through to approval quickly.
Further progress was made in the Biotest Next Level expansion project in financial year 2021. The last of the Process Performance Qualification PPQ batches was successfully produced at the beginning of August 2021. With the achievement of this milestone, all prerequisites for the successful commercial production of IgG Next Generation were met. All the data collected was compiled as part of the dossier preparation. The submission of the dossier to the drug authorities for IgG Next Generation took place on 31 March 2022. Approval for this and thus marketing authorisation for IgG Next Generation is expected at the end of 2022.
After the submission, Biotest was able to announce the signing of a licensing agreement for its novel immunoglobulin (IgG Next Generation) with the Saudi Arabian company Pharma Pharmaceutical Industries (PPI). Based on this agreement and with the help of Biotest’s immunoglobulin expertise and technology, PPI will be able to launch the first local polyvalent intravenous immunoglobulin in Saudi Arabia.
The voluntary takeover offer of Grifols S.A. published on 26 October 2021 for the shares of Biotest AG was effectively completed on 25 April 2022 ("Closing"). Following the completion of the public takeover offer and the completion of the acquisition of Tiancheng (Germany) Pharmaceutical Holdings AG, Grifols held 96.20% of the ordinary shares and 43.2% of the preference shares and thus held 69.72% of the share capital of Biotest AG. On May 2, 2022, Grifols, S.A. published pursuant to section 23 (2) sentence 1 WpÜG that Grifols, S.A. has acquired a further 0.94% of the voting rights of Biotest AG. Grifols, S.A. now holds a total of 97.14% of the voting rights of Biotest AG.
The Quarterly statement is available on the company's website at
Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201
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