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BTG Pharma upgrades sales guidance after strong first half

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By Reuters

LONDON (Reuters) – Pharmaceutical firm BTG <BTG.L> upgraded its sales forecast on Thursday after it included its varicose vein treatment Varithena in its oncology and vascular portfolio and saw strong demand for its tumour-targeting medicines.

Shares in the group rose 4 percent in early deals.

The company said it expected product sales for the combined portfolio to grow by 15-17 percent this year, up from its previous 13-15 percent forecast, while sales of its pharmaceutical products would be at the upper end of guidance.

It had guided to flat to single digit percentage declines in pharmaceutical sales this year when it published its full-year results in May.

The company also said its chairman Garry Watts would retire at the end of the year.

(Reporting by Paul Sandle; editing by Sarah Young)