Biotest reports first quarter revenue growth

Biotest has reported a year-on-year increase in its corporate revenues during the first quarter of the 2010 fiscal year.

The science company’s sales takings for the January to March period came to 115 million euros (97.7 million pounds), a rise of 5.2 per cent compared to the corresponding period of 2009.

In addition, the company’s earnings after tax also saw a significant increase in the same timeframe, which was attributed to the sale of Biotest’s medical diagnostics business.

This sale was agreed at the end of last year as part of the company’s strategy to refocus its business on pharmaceutical and biotherapeutic drugs in immunology and haematology.

Biotest stated that growth has been achieved despite what it describes as a “difficult environment”, while also confirming its 2010 full-year target of single-digit sales growth and earnings in line with 2009.

It said this should be accomplished “provided that no further price reductions occur and that we succeed in selling more of our products in less price-sensitive markets”.