Sirtex exceeds expectations with FY2013 profit
Sirtex Medical (ASX: SRX) has come in ahead of analysts’ expectations this financial year, reporting a total revenue of $100.3 million, an increase of 16% on the previous financial year.
The company reported a net profit after tax of $18.3 million, up 7% on last year, with cash holdings of $52 million at the end of the year compared to $49 million in FY2012.
Sirtex has been one of the best-performing stocks on the ASX during the last financial year, with its share price doubling from around $6 to $12.
This rise is thanks to strong dose sales of Sirtex’s SIR-Spheres, a targeted radioactive liver cancer treatment.
The largest growth was in the US, where sales rose by 21.4%. Across Europe, the Middle East and Africa (EMEA), sales were up 9% and in the Asia-Pacific doses increased by 29.5%.
With work on a new manufacturing facility in Germany progressing to schedule, sales in Europe should continue to grow.
Sirtex has also invested $15.8 million into its global clinical program, which aims to make its targeted radiation therapy a first-line treatment option for patients with liver cancer.
Sirtex shares were trading just under $13 at $12.96 at around 10 am on Friday.
Breast augmentation procedure uses 3D-printed scaffolds
3D-printed scaffold technology from medtech company BellaSeno has been used in a primary breast...
Victoria detects H5N1 avian influenza strain
It follows disease confirmation in seabirds in WA, SA, NSW and Qld and the national decision that...
TGA acts on melatonin imports with infringement notices totalling $99K
Laboratory testing of several imported unregistered melatonin products has confirmed them to be...
