Biotest reports sales growth in 2011

Biotest has announced its preliminary and unaudited financial results for 2011, reporting a slight year-on-year increase in sales.

The life science and healthcare company generated a sales total of 422 million euros (357.31 million pounds), up by 2.3 percent compared to 2010 despite difficult market conditions over the last 12 months.

According to the firm's statement, earnings before interest and tax for the period came to 41.4 euros, which included the upfront payment of 17.4 million euros from its alliance with Abbott.

This deal, which will see the two organisations collaboratively developing and commercialising the rheumatoid arthritis and psoriasis treatment BT-061, helped to offset the impact of global price reductions, plus the costs associated with the expansion of Biotest's production site in Florida.

In the last 12 months, Biotest also completed the sale of its microbiological monitoring division to Merck KGaA, parent company of healthcare firm Merck Serono.

This will help Biotest to increase its focus on plasma proteins and biotherapeutics moving forward.