BTG PLC (LON:BTG) has upgraded its sales expectations for the full year, driven by strong product sales in the first half in its Interventional Medicine arm.
The FTSE 250 healthcare firm said that following the incorporation of Varithena, a varicose veins treatment, into its Vascular portfolio it was upgrading its product sales forecasts for the combined Vascular and Oncology portfolios to 15%-17% growth for the year on a constant currency basis.
READ: BTG snaps up medical device maker Novate for up to US$150mln
BTG added Varithena to its portfolio after acquiring medical device maker Novate Medical last month in a deal worth up to US$150mln if certain milestones are met.
The company added that it now expected sales for the full year in its Pharmaceuticals division to be “around the upper end” of its guidance range of a flat-to-single digit decline in constant currency.
The update comes ahead of the firm’s interim results, which are expected to be released on November 13.
In a separate announcement, BTG also said Garry Watts, its chairman and non-executive director, would retire from his position at the end of the year.
The company has begun the process of finding a replacement for Watts, who was appointed to the role in 2012.
In early trading Thursday, BTG shares were up 3.1% at 577p.