Sirtex profit up 69%

Company News

Sirtex has announced a 69 per cent increase in net profit after tax to $40.3 million for financial year 2015.

CEO Mr Gilman Wong said the company's better financial performance was driven by higher demand for its SIR-Spheres Y-90 resin microspheres radiotherapy treatment for liver cancer.

"This, coupled with price rises in key markets, favourable exchange rate and controlled growth in operating expenditures over the period resulted in out full year earnings growth materially outpacing volume growth as measure by dose sales," said Mr Wong.

Dose sales rose 19.8 per cent and revenue 36.1 per cent to $176 million.

The company said growth in dose sales reflected greater acceptance of its product by the oncology community, coupled with increased investment in its sales and marketing infrastructure.

"The Americas remain a key driver for dose sales and revenue growth into the future and now represent 69.0 per cent of our global mix by volume and 77.6 per cent by revenue," it said.

The company said data presented at the American Society of Clinical Oncology meeting in Chicago in May showed SIR-Spheres microspheres plus chemotherapy in first-line metastatic colorectal cancer extended the amount of time it took for the tumours to progress of 'grow' in liver by 7.9 months.