LONDON (Reuters) - British drugs company BTG (L:BTG) lifted its forecast for annual revenues by as much as 4 percent on Thursday, citing the benefits of a U.S. acquisition and the reversal of currency headwinds.
The company, whose products include a treatment for varicose veins and anti-venom drugs, said it now expected revenues in the range of 345 million pounds ($528 million) to 360 million pounds, higher than previous guidance of 330 to 345 million pounds.
The higher forecasts reflect the acquisition of lung device company PneumRx, which completed in January, plus the reversal of adverse currency moves which impacted its first-half.
BTG had already said in November that revenues for the year to end-March 2015 would be at the top end of the 330 million pound to 345 million pound range.
Shares in BTG, which has a market capitalisation of about 3 billion pounds, traded down 0.7 percent to 796.5 pence at 1521 GMT.