Biotest reports year-on-year growth in first half of 2012

Biotest has published its financial report for the first half of 2012, during which the company experienced an improved performance on a year over year basis.

The company's revenue total for the six months came to 220.2 million euros (173.33 million pounds), up by 3.4 percent compared to the first half of 2011, while earnings before interest and taxes rose by 14.5 percent to 22.9 million euros.

Biotest attributed its improved results to increased sales volumes, driven largely by international markets, while refinements to its production process created savings through better efficiency.

The firm's therapy division made a significant contribution to the positive earnings growth thanks to a 36 percent year-on-year improvement, and funds have also been received from Abbott as part of its collaborative agreement for tregalizumab.

It means that Biotest continues to experience growth following the introduction of a three-segment operational structure earlier this year, a change aimed at further improving the company's organisational efficiency.