BTG's revenues for 1st 6-months of 2006 up 30%

UK-based medical innovations firm BTG says that, for the six months ended September 30, 2006, it made pretax profits of L1.7 million ($3.2 million), up from the L1.9 million loss it saw in the comparable period in 2005. The company attributed the improvement to increased royalty revenues, which grew 30% to L12.2 million, and a reduction in its operating costs, which fell to L9.1 million from L10.7 million in the year-earlier period.

Louise Makin, BTG's chief executive, said that the firm's cost-cutting activities and cash reserves of L43.0 million would allow it to accelerate pipeline growth through investment in new programs, portfolios and platforms. Currently the company has four products in clinical development and a further four at the preclinical stage.