Report

Update: Right time, right place

BTG's FY15 results demonstrate the strength of its strategy and growth prospects. It is becoming a leader in the growing interventional medicine (IM) market, with a portfolio spanning oncology, vascular and pulmonary products, targeting sales of >$1.25bn in 2021. The investment in the IM franchise is being supported by the strong cash flow from specialty pharmaceutical sales and licensing revenues. We have increased our valuation from $5.06bn to $5.36bn ($14.04/share).
Underlying
BTG plc

BTG is engaged in the business of healthcare which focusing on Interventional Medicine therapies for cancer, severe emphysema, severe bloodclots and varicose veins, and Specialty Pharmaceuticals for acute care uses, and a licensing business. Co. manufactures a number of products in-house including the Bead products, the EKOS Endovascular System, Varithena®, the PneumRx® Coil, the GALIL™ Cryoablation Solutions, and the polyclonal antibodies CroFab® and DigiFab®. The EKOS® System is an ultrasonic catheter drug delivery device used in the treatment of blood clots, and Varithena® is a proprietary engineered microfoam used in the treatment of varicose veins.

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Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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