BTG's upbeat close period update (imo) further confirms the turnaround.
With recurring royalty revenues expected to be up by about 5% and R&D spend in line, and a product pipeline to die for, i believe they are cheap, and a real growth stock for the future.
Any comments.

neil777, YES and bought some in my ISA at 1.19 when the (banking) Markets were fearful....I thought there might be some good news prior to the AGM (Funny that.) as I see this as a Varisolve-play alone. If it fails I lose, if it wins then we are down to the abilities of the Execs to get a good deal ( their cash pile sure helps against any silly offers)....and "probably" double my investment, although in the past it has peaked near 12 on hopes. If we halve that excitement, and maybe take a bit off for the long-term income, I can see this could be pushed to 4-5 . . . when the Market factors-in the other products ...and potential yield.

What's yr take?

RNS Number : 6140Z
BTG PLC
22 July 2008



BTG plc: Study Shows Abiraterone Can Successfully Treat Aggressive, Chemotherapy-Resistant Prostate Cancer




London, UK, 22 July 2008: BTG plc (LSE: BGC), the life sciences company, notes the publication of a new study in the Journal of Clinical Oncology showing that abiraterone caused significant tumour shrinkage and reduction in prostate specific antigen (PSA) levels in 70-80% of men with advanced, chemotherapy-resistant prostate cancer.




BTG acquired abiraterone from the Institute of Cancer Research and, having funded its early development and secured the intellectual property position, subsequently licensed it to Cougar Biotechnology, Inc. Earlier this year, Cougar commenced a 1200-patient phase III trial with abiraterone, also known as CB7630, in men with metastatic castration-resistant prostate cancer who have failed standard chemotherapy.




In this latest study, conducted by the Institute of Cancer Research and the Royal Marsden Hospital, patients were followed for two-and-a-half years and most had stable disease throughout the period with few side effects. It follows a number of other phase I and phase II studies supporting the role of abiraterone as an important new potential treatment option for aggressive prostate cancer.




Louise Makin, BTG's chief executive officer, commented: 'We are delighted that abiraterone continues to show excellent potential as a new treatment for these resistant forms of prostate cancer, which represent a significant unmet need.'




BTG will receive milestone payments and royalties on sales of CB7630 if it is successfully developed and approved for sale.




CB7630 is one of a number of products BTG has licensed to partners that are making progress through clinical studies. Campath, licensed to Genzyme Corporation, is already approved to treat chronic lymphocytic leukaemia and is under development as a potential treatment for multiple sclerosis; two phase III trials in patients with relapsing-remitting multiple sclerosis commenced earlier this year. TRX4, a monoclonal antibody licensed to Tolerx, Inc, has completed a successful phase II study in patients with type 1 diabetes and is expected soon to start a pivotal phase III trial. Tolerx also recently announced a collaboration with GSK to develop TRX4 for a range of autoimmune diseases.




BTG is also conducting clinical studies with several of its own programmes targeting the treatment of varicose veins, Alzheimer's disease, multiple sclerosis, migraine and obstructive sleep apnoea.




For further information contact:




BTG
Financial Dynamics

Andy Burrows, Director of Investor Relations

+44 (0)20 7575 1741; mobile: +44 (0)7990 530605

Christine Soden, Chief Financial Officer

+44 (0)20 7575 1591
Ben Atwell

+44 (0)20 7831 3113





About BTG

BTG in-licenses, develops and commercialises pharmaceuticals and has a broad pipeline of development programmes targeting neurological and other disorders including varicose veins. The company also has a substantial and growing revenue stream of milestone payments and royalties from out-licensed products. BTG operates from offices in London, Philadelphia and Osaka. For further information, visit: www.btgplc.com.


This information is provided by RNS
The company news service from the London Stock Exchange

Sorry for no reply Hangon, I have been away a fair bit and my attention has been elsewhere, ie, getting my nuts kicked in with AZM !

AZM(off thread) was indeed a blow! It's not one I hold, but I watched the graph in disbelief. What's yr take? ( try AZM iteslf, pse).

EDIT 4Aug08
Wow! just look st BTG moving - the Bear-Market is somewhere else ( famous last words!) and I love it....This is now my no1 holding ( others badly battered). . . . now what if Vs is a Winner? - twice the current sp ( that's 4 ).....let's not forget this stock rose to 12 in daft days, 2000-ish.
Very conveniently I bought all of my ISA into BGC, and its gone up 50% - wow, thankyou market - but I'm not selling just yet. Oh no.

RNS Number : 7801A
BTG PLC
06 August 2008



BTG plc: Tolerx initiates dosing of otelixizumab in a phase III clinical trial in type 1 diabetes

Tolerx to pay milestone of $7.5 million to BTG




London, UK, 6 August 2008: BTG plc (LSE: BGC), the life sciences company, notes today's announcement by Tolerx, Inc. that it has initiated a pivotal phase III clinical trial of otelixizumab (TRX4) in patients with new onset type 1 diabetes. Initiation of the DEFEND (Durable Response Therapy Evaluation For Early or New Onset Type 1 Diabetes) triggers a milestone payment by Tolerx to BTG of $7.5m.




The DEFEND trial, which is being conducted at multiple centres in North America and Europe, will enrol approximately 240 people aged 18-35 who have been newly diagnosed with type 1 diabetes. It will evaluate whether a single course of TRX4, administered no later than 90- days after the diagnosis of autoimmune type 1 diabetes, can inhibit the destruction of pancreatic beta cells and thereby reduce the amount of administered insulin required to control blood glucose levels. The primary endpoint will be a measurement of C-peptide, which is a surrogate measure of beta cell function.




Louise Makin, BTG's chief executive officer, commented: 'We are delighted that Tolerx has commenced this pivotal phase III trial of TRX4, which could be a significant new treatment option for people with new onset type 1 diabetes. TRX4 is the third of our licensed programmes to enter phase III trials recently, alongside Campath for MS and abiraterone acetate for prostate cancer, underlining the value of our licensed pipeline.'




BTG granted Tolerx worldwide rights to develop and commercialise TRX4 in September 2001. In October 2007, Tolerx entered into an agreement with GlaxoSmithKline to develop and commercialise TRX4 in a range of autoimmune and immune-mediated inflammatory diseases. Under the terms of that collaboration, Tolerx may earn development and sales milestone payments of up to $525m and BTG is entitled to receive 50% of the development and sales milestones paid to Tolerx.




For further information contact:




BTG
Financial Dynamics

Andy Burrows, Director of Investor Relations

+44 (0)20 7575 1741; mobile: +44 (0)7990 530605

Christine Soden, Chief Financial Officer

+44 (0)20 7575 1591
Ben Atwell

+44 (0)20 7831 3113





About BTG

BTG in-licenses, develops and commercialises pharmaceuticals and has a broad pipeline of development programmes targeting neurological and other disorders including varicose veins. The company also has a substantial and growing revenue stream of milestone payments and royalties from out-licensed products. BTG operates from offices in London, Philadelphia and Osaka. For further information, visit: www.btgplc.com.


This information is provided by RNS
The company news service from the London Stock Exchange

END

just a bit of history/

over 16 pounds once

18 to be exact! But that was in the stupid days.

The dot-com days are gone and those silly prices are unlikely to re-appear. Many companies had little real value - but the MArket kept pushing onwward and upward.
Now, back in 2008, from 85p (Springtime) BTG has be rising to current 2.20 with just a slight drop recently from higher. That shows the fundamentals are-a-changing since this Market is "tough" - there may be some sillynes, but if it's doubled confortable in under 6-months, there is no reason to believe it cannot do the same when some "news" supports the potential. Therfore I'd be surprised if we don't see another 1 ( =4-bagger) before long and maybe more at the time of any Ann. Perhaps that will be time to sell and buy on any bounce, as there will be plenty that think that's enough.
Yet, after a +ve Ann. why sell? That Ann will define the potential and timescale - why would any Market treat you to a buying Op ?
Other than balancing yr portfolio it will be better to stay In. At least until the first Deal is struck, which might indicate any cash-returns to shareholders...for that is when pay-day should start.
If Management finds other uses for the profits, that will be time to question the pipeline and the way Execs want to reward shareholders - - - Grief we've been patient! I think all my purchases are in profit now, but more would be an extra comfort.
Looking at the Graph, it looks sensible to say that 6 looks possible - but IF you remove the Dot-Com bubble, then the graph doesn't look so good. And nor should it - the value has only appeared recently, so consider the graph from about 2004/5 and maybe 3-4 looks achievable.
That's not to say a spike cannot occur and that will depend on Management.

BTG has been examined by "Shares" and found that the sp is higher than the all-time floor...funny that, eh?
What they don't say is that since last April)-ish), the Market has re-rated this because the prospects of Varisolve are much greater, and the Market sees the other products, the income-stream and the Cash - are worth the 2+


To suggest this will touch 85p begs this question - If you have any stock, will you sell them to me cheaply - many thanks.

DYOR

UPDATE 1-BTG to buy Protherics in $390 mln UK biotech deal
AFX


LONDON, Sept 18 (Reuters) - BTG has agreed to buy Protherics for around 218.1 million pounds ($388.6 million) in an all-share deal, the companies said on Thursday, marking the further consolidation of Britain's biotech sector.

Biotechnology has seen a spate of takeover activity recently, spurred by large drugmakers seeking to acquire new products to fill their depleted drug development pipelines and smaller companies joining forces to stretch cash reserves.

Protherics shareholders will receive 0.291 new BTG shares for every one Protherics share held. That values Protherics at 60 pence a share -- a premium of 45.5 percent to the closing price on Sept. 17 -- based on a BTG share price of 206p.

Annualised merger cost synergies and rationalisation of the enlarged group's cost base are expected to be around 20 million pounds by 2010/11, the two companies said.

The acquisition is forecast to be earnings enhancing, on an EBITDA basis, and cash neutral from 2009/10 and significantly earnings enhancing thereafter.

Protherics first announced last month that it had received several bid approaches and there had been some speculation it might be bought by AstraZeneca Plc.

'I think people would have preferred a cash offer from Big Pharma rather than paper in a company whose shares have gone up 115 percent in the last year when everything else has gone down,' said KBC analyst Paul Cuddon.

AstraZeneca has a deal dating back to 2005 with Protherics covering its experimental drug CytoFab for sepsis, a deadly syndrome linked to serious bloodstream infections. The Anglo-Swedish group also has a 3.2 percent stake in the company.

Protherics also has an alliance with privately owned Swiss drugmaker Nycomed, which sells its CroFab treatment for rattlesnake bites and DigiFab for drug overdoses in the United States.

Rothschild is acting as financial adviser to BTG. Jefferies is acting as financial adviser to Protherics.

(Additional reporting by Ben Hirschler; Editing by Greg Mahlich) ($1=.5612 pounds) Keywords: PROTHERICS BTG/

tf.TFN-Europe_newsdesk@thomson.com

ak



COPYRIGHT

Don't know of many deals that are settled on the first price recommended. Would like to have seen the usual release first, IE 'Protherics have been offered equivalent to 60p per share for the company by BTG. The company will not be recommending the offer as we believe it does not reflect the true value of Protherics'.
Was this the first offer?, and if so why is it being recommended. This is going against the normal trend of Takeovers.

So BTG say they have received a positive response from 45 percent of shareholders, and Protherics saying it had positive responses from 35 percent.
Obviously as myself and many other PI's have not been approached it means 45 percent and 35 percent of 'Those Approached'.
So presumably that means 55% and 65% respectively have given negative feedback.

As a PTI holder I agree with those who think it's a steal. Protherics has a healthy cash pile with a drug portfolio in varying stages, that is no doubt the envy of similar drug/bio market cap companies.

I hold both, although BTG is the greater investment. So it appears to me a good deal - for "we" never know the full extent of almost everything.

Greekman, You, appear to claim PTI Directors do not support this deal - this is untrue as I read the PTI document recently posted: "(dated 18 Sept.08 - p4). . . . Para10, ...and the Independent Protherics Directors intend unanimosly to recommend that Protherics Shareholders vote in favour . . . . and . . . at the Protherics EGM. - . . . . "
Doesn't read(to me), like you say. . . . . . do you have supporting documentation?

However, I suspect that together, they will be stronger than separate.
-Are there losers? - well, only if you believe the prospects for PTI are vast - and I'm inclined to discount what all Execs say:-
-1) They have said similar for ages

-2) Little excitement in the Market - witness the lamentable sp, prior to this ann.

So what are PTI sharehplders upset about? Why didn't they fill their boots when the sp was south of 30p ( ie well under half recent highs)....? I can only guess they were not impressed and put their money elsewhere.

By contrast, BTG has risen from a low ( nearly 90p Jan08) to nearly 3x prior to the recent financial implosion from US....and the reason? IMHO it's the prospect of Vs about the hit the Market....which is worth a lot....so PTI-shareholders will be able to embrace any returns for this - so maybe BTG shareholders should be concerned - and this is the REASON for the sp fall - in the minds of MM's for I don't see a huge selling in the Market.
However, it's true that such a tie-up is confusinig - it involves NO CASH - so the combined company will be very well positioned to bring their next generation Drugs forward.
Let's not forget that BTG has a decent regular income and is really the larger of the two - so if anything BTG shareholders are getting the less-good deal. However, to compensate for this, it is probable that Vs can be negotiated "better" by the combined efforts, so I suspect that cash-returns will be greater. "...Better 10% of something Big, than 20% of something much smaller, eh?..."

Whilst there are always losers - I suggest that its rather too complicated to "point the finger" - so let's hear from posters (here) . . . . . aren't we all winners?
Er, or all losers - - - surely not?
+I cannot imagine a better "fit" for two exciting businesses.
I attended PTI agm and was surprised at the number of "suits" all being paid by a relatively small turnover . . . . . Let's hope this generosity stops with the combined Group. BTG was quite restrained, by comparison.

getting close to the TAKEOVER ( well, combine, really).
I see a rising sp - this must be the Market accepting it will go through and seeing the advantages.
Have bought a few PTI recently at a small discount ( although only Time will prove this!)....but I suspect the original ratios are about right.
IF the BTG sp rises then recent PTI-prices will be something of a bargain....let's hope, eh?

Is there anything more driving the sp? - well, the underlying businesses are pretty good...with potential to reach maybe 5 . . . . a decent price for a Business with close-on 100million in cash and income.
[[Note that all sp figueres need to be adjusted because of the expanded shareholder-base, perhaps others here can suggest a discount, like 20%, so this means a figure of 5 is a guess on the "old" shares, therefore perhaps 4 - but this is still nearly 3x current level. Furthermore, this figure is not rational - it might be the any "good-news" will command an exceptional sp in these markets of dire-gloom.]]
BTG's products are Patent-protected and most require FDA-Approval - with this there is something like a Monopoly . . . .always good provided there are enough customers .. . . .but in America this is a Bonus, witht he exchange-rate a boost to UK -Shareholders. I Hold BTG[BGC].

Morning all,

Have followed this thread since the takeover of PTI was first muted. Looks like it is almost as quiet as the PTI thread became. Still here now and looking forward, instead of backward (those were the days etc) as forward is now the only way to look.

Greek

Nice positive write up in the Mail on Sunday.

http://www.cityam.com/index.php?news=26714

Morning Hangon,

Sorry wasn't ignoring you. Just been busy.

You stated in post 55....Greekman, You, appear to claim PTI Directors do not support this deal -

I think you possibly mis read my post (or it could have been my grammar) as all I said was.....Would like to have seen the usual release first, IE 'Protherics have been offered equivalent to 60p per share for the company by BTG. The company will not be recommending the offer as we believe it does not reflect the true value of Protherics'.......All between the dots was what I would have liked to have seen.
All along Protherics Directors have been very pro, what suprised me is that they took what looked like the first amount offered and did not attempt to up the anti.
This is going against the normal trend of Takeovers.


Nice little write up.
Seven shares we wished we'd picked in 2008
by Nick Louth, exclusive to MSN
December 16 2008

BTG being onesurprised of them.

http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=11911094

Cheers Greek.

+++and the new co is up 5%
(incidently I did start a new thread for the New Company - "Happy New Year", so we could refer to the new (enlarged) business, without getting historical references to the separate businesses - they are all ONE, now.)
Also, I suspect PTI directors were not quite as open as one might like on the matter of cash to push forward, as I wasn't sure Crofab income was more than petty-cash, being a limitied market with little expansion prospect ( but with a small risk of a competitor, or improved snake-management, etc.).

Hangon,

Yes, nice rise. Also thanks re the new thread. Did not know it referred to BTG.
Any chance of changing it to BTG 2 or something as newbies may not know where to go.

If not, no prob, I will help spread the word.

Good trading update.

As many on here know I was strongly against PTI selling out (as I put it) to BTG. Whilst not ready yet to change my opinion, it is beginning to look like it was a good deal after all. Does not matter the price level paid for PTI shares, which at the time I thought was too low, if the end product means that the deal brings better and bigger profits to the share holder.

Hopefully within the next 12 months or sooner I will be able to hold my hands up and say I was wrong, it was a good deal.

Nice of you to say greekman, I'm still holding; I guess we're still on this thread.
The Update was onwards and upwards, without any back-bighting that can come from a joining of businesses, with their internal "empires".
However, I didn't get the impression they were slimming-down Management, probably best to see how things pan out and where Execs can expand into newer roles....so it's still looking good, IMHO. I did have shares in both so it looked good to me, esp as they might secure better deals in US - and "now" is probably a good time to be getting stuck-in.(ie before any really valuable drugs are approved).
Noticed some price-slipping, but I guess folks really want Exceptional News, which is a little unrealistic since Approvals take time. Essential to be "in" than watching, eh?