BTG reported better-than-expected profits on Wednesday as it prepares for its merger with Protherics, a move that will create the U.K."s largest specialty pharmaceutical company. The biotechnology group"s 6 months revenue was 37 percent lower at £30.2 million ($45 million) compared with the same period last year, while profit before tax was 78 percent lower at £3.4 million. Earnings per share fell 77 percent to 21p.