Biotest AG: 2009 brings additional growth
Biotest AG / Final Results
19.03.2010 09:00
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2009 brings additional growth
- Sales up by 14.1% to EUR440.2 million, EBIT improved by 4.2%
- Important progress made in R&E projects
- Expanded position as specialist for immunological and haematological
therapies
Dreieich, 19 March 2010. The Biotest Group presented its definitive figures
for the financial year 2009 today. The supplier of plasma proteins and
diagnostic products for microbiology reported sales of EUR440.2 million, an
increase of 14.1% compared with the figure for 2008 (EUR385.9 million).
Earnings before interest and taxes (EBIT) rose by 4.2% from EUR59.0 million
to EUR61.5 million; profit before tax (EBT) went up by 7.7% to EUR49.0
million (2008: EUR45.5 million). Biotest thereby exceeded its own targets
for sales and earnings. These figures refer to Continuing Operations
without the transfusion and transplantation diagnostic activities. Biotest
sold these operations to Bio-Rad Laboratories, Inc. on 6 January 2010. The
Group's operating business is now divided into three segments: Plasma
Proteins, Biotherapeutics and Microbiological Monitoring.
In its core business with plasma proteins Biotest reported sales of
EUR390.1 million last year, 14.9% more than in 2008 (EUR339.5 million). All
product groups contributed to this growth.
Sales in the Microbiological Monitoring segment rose by 8.0% to EUR50.1
million (2008: EUR46.4 million). As in previous years, the subsidiary
heipha Dr. Müller GmbH made a vital contribution to this growth in 2009.
In the Plasma Proteins segment Biotest achieved important strategic
developments in 2009, with additional approvals in international markets, a
broader product range due to new and refined preparations and greater
capacities. In March Biotest obtained authorisation to market products
manufactured in a recently installed immunoglobulin purification facility.
The production capacity available to Biotest has since doubled to four
tonnes per year. Expansion of immunoglobulin production with an annual
capacity of 1.5 tonnes has been progressing according to plan at the site
of the US subsidiary in Boca Raton, Florida. The manufacturing plant began
operations there in December.
Considerable progress was made in developing monoclonal antibodies in the
Biotherapeutic segment. Since the beginning of a phase I clinical trial in
2009, the third of three monoclonal antibodies in the Biotest pipeline,
BT-063, has now also been in clinical development. Initial indications of
clinical efficacy have been reported for BT-061 and BT-062; the trials to
date have shown them to have good general tolerability. Biotest has begun a
phase II trial in plaque psoriasis (BT-061) and will be initiating
additional trials in the current year in phase IIb (BT-061) and phase I/IIa
(BT-062) in rheumatoid arthritis in order to gain additional data on
efficacy and tolerability. A broader set of data will increase the value of
the projects. This is also relevant to the talks with other pharmaceutical
companies on joint development work for BT-061.
Demand for plasma proteins increased again in 2009, and the main growth
drivers - a broader range of indications, higher dosages and the opening up
of additional markets - are still intact. A greater supply of plasma,
however, meant that prices in some segments no longer continued rising, or
even declined slightly. In Biotest's opinion this trend will continue in
2010 as well. Indeed, significant declines in sales prices cannot be ruled
out in some markets.
The figures available so far on business and earnings developments for the
first months of the year suggest a continuingly stable to positive
development for the year as a whole. The Board of Management is expecting
sales to increase at a low single-digit rate in 2010 and EBIT should match
the level of 2009. This does not include any income from a possible
licensing agreement or a project stake in the Biotherapeutic segment.
The full Annual Report can be downloaded from Biotest's website
(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.
Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, www.biotest.de
Dr. Monika Buttkereit
tel.: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
fax: +49 (0) 6103 801-347
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
19.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
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
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