Allergy Therapeutics plc Release: Interim Report For The Six Months Ended 31 December 2014

Continued increase in market share leads to double digit sales growth

Allergy Therapeutics plc, the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announces unaudited interim results for the six months ended 31 December 2014.

Highlights

• Increase in revenue of 11% at constant currency to £30.2m (H1 2014: £27.2m)*

• 4% increase in reported revenue

• Market share increases in all main markets

• Operating profit increased 13% to £7.5m (H1 2014: £6.7m)

• Profit for the period increased 17% to £7.3m (H1 2014: £6.2m)

• Cash balance improved to £8.0m (H1 2014: £5.2m)

• R&D team strengthened in preparation for the US development programme

Manuel Llobet, Chief Executive Officer, commented:

“Our portfolio of short and ultrashort course aluminium free allergy vaccines is increasingly becoming the treatment of choice with prescribers. We have continued to increase our market share in all of our main markets and this has led to double digit sales growth at constant currency for the period. While markets in Europe are expected to remain flat in the near future, we will continue to drive further market penetration through leveraging the strengthened infrastructure we have put in place, which should allow us to improve margins.

“During the period, we have also focussed on dialogue with the US FDA and the prospects of further clinical activities in the US. In the next six months, we are expecting to resume clinical trials to progress the major opportunity in the US into the next stage of the Company’s continued growth. We remain excited about the prospects for the future.”

* Constant currency uses prior year weighted average exchange rates to translate current year foreign currency denominated revenue to give a year on year comparison excluding the effects of foreign exchange movements. See table in financial review for an analysis of revenue.

Allergy Therapeutics
+44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Ian Postlethwaite, Finance Director

Panmure Gordon
+44 (0) 20 7886 2500
Freddy Crossley / Duncan Monteith, Corporate Finance
Tom Salvesen, Corporate Broking

FTI Consulting

+44 (0) 20 3727 1000
Simon Conway
Victoria Foster Mitchell

Note to editors

About Allergy Therapeutics

Allergy Therapeutics is a specialty pharmaceutical company focused on allergy vaccination. It has a growing business achieving revenue in the last financial year of £42 million mainly in Europe through its own sales and marketing infrastructure and further afield through distributors.

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