Date Broker Recommendation Price Old target price New target price Notes 18 May 16 Jefferies International Buy 619.75 850.00 840.00 Reiterates 18 May 16 JP Morgan Cazenove Neutral 619.75 780.00 800.00 Reiterates 18 May 16 Deutsche Bank Buy 619.75 755.00 740.00 Retains 17 May 16 Stifel Hold 619.75 - - Reiterates 17 May 16 Jefferies International Buy 619.75 850.00 850.00 Reiterates
British Technology Group was a sell off of Government research of 80's. They actually have a key patent used by Sony in the flash card but never got a penny. You will see from results that the royalties of the drugs developed by Britain best medical boffins are the biggest earner for the company and Abiaterone (brilliant drug for advanced prostatic cancer) is biggest single earner. It still has a few more years on license so perhaps half a billion in earning. Revenue growth of BTG is up 22% but nearly half of this is currency conversion. I see that the market likes the results but sadly most of the income is not being returned to shareholders but rather used in buying up other companies, perhaps at a very full price. I got my shares in BTG when they bought Protherics which I found when they were producing the anti venom for adders and my son managed to find one in the New Forest, which very kindly chose not to bite back! The Protherics buy has been cash generative to BTG. The company bought another UK company Biocompatibles, which made stents to keep blood vessels open but conversely developed a compound to seal them for the non-operative treatment of varicose veins. At some expense to company got this licensed in USA and it was to be the best thing since sliced bread. The share price doubled, I sold half but still hold my "free" shares. The income from Varithema is less than 1% of that of Abiraterome, licensed to J&J. Varithema has been a bit slow to take off (understatement of the year). The cash generated from Abiraterome and Alemtuzumab (for chronic relapsing MS) is not being returned to shareholders but rather spent buying up other promising companies. The monies spent remain on the balance sheet, the company gets bigger, may even reach the FTSE100. Think Hanson in the 80's, built the balance sheet with the earning of takeovers and the sp grew with the balance sheet until the penny dropped, followed by the sp. The two latest buys by BTG are PneuRx for COPD and Galil Medical for kidney cancer. If Varithema and the two new treatments are successful then the shares are worth £6 and, if one is a blockbuster, could even be worth £15. If there is a clinical event with just one (and that is odds on) look at £4 and if more than one is not a clinical success you would be lucky to catch 200p as sp heads rapidly South.
May 17 (Reuters) – British healthcare group BTG Plc said its full-year pretax profit doubled from a year earlier as sales of its interventional therapies picked up, and forecast an 8-15 percent revenue growth for the next year.
BTG shares rose as much as 2.4 percent to 600.50 pence on Tuesday morning.
BTG said it expected revenue to be in the range 485 million pounds to 515 million pounds ($703.6 million-$746.7 million) for the financial year 2017 and costs related to research and development at about 85-95 million pounds.
Jefferies analysts said the revenue forecast was as anticipated, but expected research and development expenses to go up from the company's forecast.
Analysts on average were expecting 2017 revenue of 493.6 million pounds, according to Thomson Reuters I/B/E/S.
The specialty drugmaker reported a pretax profit of 57.5 million pounds ($83.4 million) for the year ended March 31, up from 26.7 million pounds a year ago. ...
BTG's revenue rose 22 percent to 447.5 million pounds, compared with 367.8 million pounds a year ago.
The company's interventional therapies help treat blocked arteries and veins, and blocks blood supply to cancer-affected areas. BTG also makes specialty pharmaceutical products.
Interventional therapies accounted for 33.6 percent of its revenue this year, only behind the revenue the company gets from licensing its products to other drugmakers. ($1 = 0.6897 pounds)
(Reporting by Vidya L Nathan in Bengaluru, Editing by Sunil Nair) ((email@example.com;; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 6137;; Reuters Messaging: firstname.lastname@example.org)
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