Biotest sees year-on-year growth in first half of 2010

Biotest has published its financial results for the first half of the current financial year, during which overall product sales increased compared to the corresponding period of 2009.

The science company’s sales taking totalled 227.1 million euros (189.9 million pounds) for the six-month period, a four per cent year-on-year rise.

Biotest also noted that earnings for the same period fell below its projections, which it attributed to the difficulty of economic circumstances, market trends and healthcare sector reform.

Despite this, the science company said it remains confident in the medium term as conditions in sectors such as blood plasma testing return to a more favourable level.

Professor Dr Gregor Schulz, chairman of the management board at Biotest, said: “We are confident that this short-term dip in sales and earnings does not impair Biotest’s good prospects.”

This comes after Biotest enjoyed a strong 2009, with sales increasing by around 14 per cent compared to the year before.