16th Jul 2014 08:59
LONDON (Alliance News) - Healthcare company BTG PLC Wednesday said its trading has been in line with guidance since April 1 across all of its business segments, but said the US Department of Justice has opened an investigation into its interventional medicine LC Bead.
LC Bead is used in the embolisation of hypervascularised tumours and arteriovenous malformations.
The company said its full-year revenues are expected to be in the GBP330 million to GBP345 million range, in line with previous guidance, despite the recent weakening of the dollar versus sterling.
BTG said its controlled launch of the varicose veins treatment Varithena continues on track and first commercial patient treatments are expected to start in the third quarter.
The company said operations to expand the geographical availability of its interventional oncology treatments are continuing, and it has seen an increase in the number of US hospitals using its EKOS blood clot treatment products.
"These activities, together with the continued contribution from our specialty pharmaceuticals business and the financial underpin from our royalties, means we are well positioned to deliver sustainable profitable growth," Chief Executive Officer Louise Makin said in a statement.
However, BTG did note that it has received a subpoena from the US Department of Justice, seeking documents in relation to an investigation they have started regarding its interventional medicine LC Bead, covering the period since 2003.
The company said it is cooperating fully with the investigation but is unable to predict its scope, duration or outcome.
BTG shares were up 0.2% to 624.50 pence on Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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