French contrast developer Guerbet reported financial results for its first six months of fiscal 2017 (end-30 June) that showed revenues growing 8% and net income nearly doubling.
For the period, the company reported revenues of 407.1 million euros, up 8.1% at current exchange rates compared with revenues of 376.7 million euros in the first six months of 2016. Guerbet turned in net income of 23.1 million euros, compared with 12.1 million euros in the corresponding period the year before.
Guerbet reported it experienced "strong performances" from its Dotarem MRI contrast agent in the U.S. and China, while its Optiray x-ray contrast product has done well, especially in Asia and Latin America. Profit margins have also improved thanks to better purchasing conditions, industrial streamlining measures, and optimization of the company's product portfolio and distribution network.
The company said the growth occurred despite lower prices in Europe for Dotarem as the generic version of the contrast agent are marketed by competitors. Also, the company has begun withdrawing some products from market, such as Oxilan and Hexabrix in x-ray, and Optimark in MRI.