The inclusion of revenue from its Mallinckrodt acquisition helped French contrast developer Guerbet boost its revenue by 66% for the first half of 2016 (end-June 30), but on a pro forma basis the company saw sales slip 5.3% as growth in MRI sales couldn't offset a decline in x-ray contrast.
For the period, Guerbet reported revenues of 376.7 million euros, compared with the 222.7 million euros the company reported in the first half of 2015. Revenues grew sharply for the first half of 2016 thanks to the contribution of sales from Mallinckrodt's Contrast Media and Delivery Systems (CMDS), which was acquired in November 2015.
But if CMDS revenues were included in the 2015 results on a pro forma basis, first-half 2015 revenues would have been 397.8 million euros after currency adjustments, representing a decline of 5.3%.
The company reported that sales of its Dotarem MRI contrast agent grew at a double-digit rate in the first half, while sales in its Interventional Radiology and Theranostic (IRT) segment saw strong sales as well. However, the vendor saw revenue declines in its X-Ray and Imaging Solutions and Services businesses.
Guerbet's net income decreased to 17.3 million euros, compared with net income of 20.5 million euros in the same period of 2015.
As a sidebar, the company reported "significant progress" in its effort to optimize its distribution network and simplify its product portfolio. The company said it believed its revenue for the full 2016 is trending to be within ± 3% of 2015's pro forma full-year revenues, which include both Guerbet and the CMDS activities.
