Biotest AG: Biotest adjusts guidance
DGAP-News: Biotest AG
/ Key word(s): Profit Warning
Biotest adjusts guidance
When plasma is fractionated, three by-products are always produced. One of them is the so-called cryoprecipitate, which contains the human clotting factors. The demand for drug therapies with coagulation factors, e.g. in haemophilia or intensive care medicine, cannot keep up with the enormous growth of the immunoglobulin sector, especially since in this therapeutic area plasma proteins also compete for use with synthetically produced drugs such as recombinant, half-life extended factor concentrates or bispecific antibodies. As a result, some of the cryoprecipitate produced worldwide is not used by manufacturers for the production of medicines. This trend will continue in the medium term.
Therefore, Biotest will only produce factor VIII in a sales-correlated manner in the future and make depreciations on existing raw material in the amount of approximately €38 - 45million.
Accordingly, Biotest is correcting its EBIT guidance for 2021 from -€5 to -€10 million to approximately -€43 to -€55 million. The exact financial impact of this one-off effect is still being determined.
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
08.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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