Biotest Sees 35% Sales Spike in First Half of 2024

Biotest AG reported a significant increase in sales for the first half of 2024, reaching €372 million, a 35.1% rise from the previous year's €275.3 million. The company achieved an EBIT of €78.4 million, driven by revenue from technology disclosure and development services for Grifols, S.A.

The new intravenous immunoglobulin, Yimmugo®, contributed notably with revenues increasing from €16.0 million to €25.6 million. Additionally, Biotest's Dreieich facility received FDA certification in June 2024, alongside FDA approval for Yimmugo® for treating primary immunodeficiencies.

For the second half of 2024, Biotest foresees continued revenue growth in the upper single-digit percentage range. This projection includes sustained earnings from technology disclosures and development services, with an estimated EBIT between €80 million and €100 million, and positive cash flow from operations.