Bionic results

"Such a significant improvement of our revenues was possible thanks to the rapid growth in sales of our flagship product - human insulin," said Adam Wilczęga, Bioton CEO.

In Q1 this year Bioton's sales of human insulin in Poland and abroad jumped by 230 percent as compared with the same period last year. In March the company's share in the Polish market of classic insulin reached 20.6 percent, making Bioton the number-two producer in the country. The company currently has a one-percent share in the world insulin market. "This acceleration doesn't mean we'll reach the company's prognosis," said Wilczęga. "However, in the second half of this year an important growth factor will appear - we'll start very profitable exports to Russia and other Eastern European countries ... This makes us optimistic about the possibility of meeting the prognosis."

Bioton is planning to obtain zł.357 million for worldwide expansion from a rights issue of 1.7 billion-shares. (Reuters)