Biotest AG Reports Significant Growth in Q1 2024

Biotest AG experienced a significant increase in sales in the first quarter of 2024, recording an 83.6% rise to €215.2 million, compared to the same period last year. The spike in sales includes a substantial contribution from technology transfer and licensing agreements with Grifols, S.A., which totalled €77.2 million.

The company’s newly launched product Yimmugo®, an intravenous immunoglobulin, contributed to this strong performance by generating €11.1 million. This product is manufactured at Biotest's new facility in Dreieich, Germany. Overall product sales rose by 17.7% to €138.0 million.

Earnings before interest and taxes (EBIT) significantly improved, reaching €52.8 million, a notable recovery from a loss of €9.1 million in the previous year. This improvement was primarily due to earnings from technology disclosure and development services amounting to €70.3 million. Meanwhile, the company's operational expansion continued with the opening of new plasma collection centres in Germany and plans for further expansion in Europe.

Looking forward to the rest of 2024, Biotest’s management anticipates continued revenue growth in the upper single-digit percentage range and an operating result between €80 million to €100 million. This optimism is grounded in the ongoing ramp-up of the Yimmugo® production facility as part of the Biotest Next Level strategy.