23 August 2011 -- Allergy Therapeutics plc (AIM: “AGY” or the “Company”), the fully integrated specialty pharmaceutical company specializing in allergy vaccines, is pleased to announce that it has implemented the initial stage of its strategy to enter Emerging Markets by initiating supplies of its products to Latin America. As outlined in the interim results announcement in March, a key strategy for the Company is to expand its revenue base outside Europe, and the Company therefore intends to pursue opportunities in the Emerging Markets.
Initially the Company will focus on Argentina, Columbia, Venezuela and Chile before moving into other Latin American markets. Allergy Therapeutics has established the necessary infrastructure to begin building a presence in these markets, including creating a subsidiary in Argentina and putting distribution agreements in place to support its sales representatives.
Allergic rhinitis (“AR”) is a common chronic condition in Latin America, with a recently reported prevalence rate of 7 % (approx. 40 million people) in a population based study1. However, other studies 2, 3 suggest the prevalence of AR to be higher, suggesting that the condition may currently be under-treated in Latin America.
Manuel Llobet, the Company’s CEO, commented:
“Our presence in Latin America is part of Allergy Therapeutics’ broader strategy to expand the business globally and enter those markets outside Europe that present significant opportunities to grow the business and help establish the Company as a global player in the allergy market. Spending on medicines in Emerging Markets is expected to double between 2010 and 2015 to around $300 billion according to IMS4, overtaking Germany, France, Italy, Spain and the UK combined and approaching US spending levels. We want to maximize this opportunity for our products and anticipate that Emerging Markets will account for a significant proportion of the Company’s revenues in 5 years time.”
References:
1. Neffen, Hugo et al. Nasal allergies in the Latin American population: results from the allergies in Latin America survey; Allergy Asthma Proc 31:Suppl 1: S9-S27, May-Jun 2010
2. Meltzer EO. Allergic rhinitis: Managing the pediatric spectrum. Allergy Asthma Proc 27:2– 8, 2006.
3. Björksten B, Clayton T, Ellwood P, et al., and ISAAC Phase III Study Group. Worldwide time trends for symptoms of rhinitis and conjunctivitis: Phase III of the International Study of Asthma and Allergies in Childhood. Pediatr Allergy Immunol19:110 –124, 2008
4. IMS Institute for Healthcare Informatics: Slowing Growth in Developed Markets as Patent Expiries and Policy Changes Take Hold. www.imshealth.com
For further information
Allergy Therapeutics
+44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Ian Postlethwaite, Finance Director
www.allergytherapeutics.com
Nomura Code Securities - NOMAD
+44 (0) 207 776 1200
Juliet Thompson/ Clare Terlouw
Financial Dynamics
+44 (0) 207 831 3113
Jonathan Birt/ Susan Quigley
About Allergy Therapeutics
Allergy Therapeutics is a speciality pharmaceutical company focused on allergy vaccination. It has a growing, profitable business achieving sales of allergy vaccines of £41 million mainly in Europe through its own sales and marketing infrastructure and further afield through distributors. The Company is expanding its infrastructure into the Emerging Markets.
Victoria Foster Mitchell
Consultant
FD Santé
Holborn Gate, 26 Southampton Buildings
London, WC2A 1PB
D +44 (0)20 3077 0486
M +44 (0)7816 944 230
www.fd.com
