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Biotest AG: 2006 financial year considerably better than expected

Biotest AG / Preliminary Results

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The issuer is solely responsible for the content of this announcement.
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2006 financial year considerably better than expected 

- Sales up 18.7% compared with the previous year, with 24.1% rise in EBIT
- Continuous strong growth for plasma proteins
- New strategic focus for Diagnostic segment 
- Further milestones achieved in monoclonal antibody development

Dreieich, 14 February 2007. In financial year 2006, the sales and results
of the Biotest Group were both considerably higher than expected. Group
sales (all figures unaudited) were up by 18.7% to EUR 281.9 million. At EUR
31.4 million, earnings before interest and taxes (EBIT) were 24.1% higher
than in financial year 2005. The Group net profit excluding minority
interests rose by 57.3% to EUR 16.0 million (previous year: EUR 10.2
million) to generate earnings per share of EUR 1.48 (previous year: EUR
1.13).
To a large extent, this growth is attributable to the highly successful
plasma protein business, which is integrated in the Pharmaceutical segment.
At EUR 205.1 million, sales were 27.9% above those of the previous year
(EUR 160.4 million). In the Pharmaceutical segment, Biotest earnings were
higher in almost all product groups and sales regions, with sales of
immunoglobulins recording particularly strong growth. As previously in
2005, polyvalent Immunglobulin Intratect®, for which Biotest achieved
significantly higher sales in all the markets it supplies, remained one of
the major engines of growth. In Germany, it now has a market share in
excess of 21%.
In the Diagnostic segment, sales totalled EUR 76.8 million, which is
slightly below the previous year’s level (EUR 77.2). The decline in
transfusion diagnostics was offset by strong growth in hygiene monitoring.
With a rise to EUR 31.4 million (previous year: EUR 25.3 million), Biotest
has been able to achieve an overproportionally high increase in EBIT in
relation to sales. Despite the sharp increase in research and development
costs, the operating margin before interest and taxes rose from 10.6% in
the previous year to 11.1% and profit before tax recorded an improvement
from EUR 15.0 million to EUR 21.6 million (+43.9%). As with sales, the
growth in profits is accounted for by the success of the plasma protein
business, in contrast to the Diagnostic segment, which closed with slightly
negative EBIT.
In 2006, Biotest was able to further advance a number of major projects
which are important to the strategic development of the Group. Landmark
milestones in the Pharmaceutical segment comprised the granting of approval
in six European countries of Hepatect® FH immunoglobulins produced using
the filter aid process and the successful market launch of Intratect® in
the UK. Beyond this, the hyper-immunoglobulin Cytotect® was granted orphan
drug status for the treatment of cytomegalovirus infection indications in
pregnancy by the authorities in the USA and the European Union.
The Diagnostic segment has been given a new strategic focus. In future,
Biotest will be concentrating the two core areas of microbiology and
immunology on the growth markets for hygiene monitoring and transfusion
diagnostics. The expansion of Biotest’s own sales structures for
transfusion diagnostic products in the USA is aimed at making the best
possible use of the high potential offered by the US market.
Further advances have been made in the development of monoclonal antibodies
in the Biotherapeutic segment. In December, the Paul-Ehrlich Institute,
which is the competent authority, gave its approval for the clinical
development of BT-061 to recommence and a clinical Phase I study was
initiated at the beginning of this year.
By agreement with ImmunoGen, Inc. Biotest secured access to ImmunoGen's
highly potent Tumor-Activated-Prodrug technology (TAP) exclusively for the
development of BT-062. BT-062 is currently being developed in multiple
myeloma, a severe bone marrow cancer disease.
According to Professor Dr. Gregor Schulz, Chairman of the Board of
Management of Biotest AG: '2006 has been a very good year for the Biotest
Group, both in terms of the results achieved and the prospects for the
long-term development of the company. In future, we shall be concentrating
even more on our core competences, promoting the further
internationalisation of business in our Pharmaceutical and Diagnostic
segments and continuing to expand our research and development activities.'

About Biotest

Biotest AG, Dreieich, Germany, is a company that researches and
manufactures pharmaceutical, biotherapeutic and diagnostic products and has
specialised in immunology and haematology. In its Pharmaceutical segment,
Biotest develops immunoglobulines, clotting factors and albumins based on
human blood plasma. These are used for diseases of the immune system or
haematopoietic system. In the Biotherapeutics segment, Biotest researches
into the clinical development of monoclonal antibodies, including in the
indications of rheumatoid arthritis and blood cancer. The Diagnostic
segment spans reagents and serology and microbiology systems which are
used, for example, in blood transfusions. Biotest has around 1,200
employees worldwide and its shares are listed in the Frankfurt Stock
Exchange's Prime Standard.


Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, www.biotest.de
Dr. Michael Ramroth, Telefon: +49 (0) 6103 801-338, E-Mail:
michael_ramroth@biotest.de
Dr. Marion Wendorff, Telefon: +49 (0) 6103 801-520, E-Mail:
marion_wendorff@biotest.de
Telefax: +49 (0) 6103 801-347



DGAP 14.02.2007 
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Language:     English
Issuer:       Biotest AG
              Landsteinerstr. 5
              63303 Dreieich Deutschland
Phone:        +49 - 6103 / 801 - 0
Fax:          +49 - 6103 / 801 - 150
E-mail:       mail@biotest.de
WWW:          www.biotest.de
ISIN:         DE0005227201, DE0005227235
WKN:          522720, 522723
Indices:      
Listed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
              Berlin-Bremen, Düsseldorf, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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