28 March 2011 -- Allergy Therapeutics plc (AIM: AGY), the fully integrated specialty pharmaceutical company specialising in allergy vaccines announces interim results for the six months ended 31 December 2010.
Highlights
- Productive meeting held with FDA in the U.S.
- FDA intends to lift clinical hold to allow further development of MATA-MPL products
- 10 Marketing Authorisation Applications filed in Germany
- Acquisition in Switzerland of the Group’s distributor Teomed
- Revenue marginally higher at £27.4 million (prior period H1 2010 (6 months ended December 2009): £27.3 million)
- At constant currency revenue increased by 4% to £28.5 million (H1 2010: £27.3 million)
- At constant currency Pollinex Quattro revenue increased by 4% to £17.0 million (H1 2010: £16.3 million)
- Profit before tax increased to £6.0 million (H1 2010: £5.6 million)
Manuel Llobet, Chief Executive of Allergy Therapeutics, said:
“During the period we achieved growth across our core markets with the exception of Germany which was impacted by the introduction of new regulation and a weaker pollen count. To address the new regulatory requirements, we successfully filed 10 marketing applications to the Paul Ehrlich Institute, strengthening the Group’s position in this important market.
“The Company has initiated a number of measures to offset the impact of weaker sales in Germany, including strengthening our sales teams in major markets outside of Germany. We are also focused on expanding into new emerging markets where we see significant opportunities to increase sales and expand the business.
“With a reduced cost base, a strong sales infrastructure in Europe and news today that the FDA intends to lift its clinical hold on development of the MATA MPL products in the US, we are confident that 2011 will be an important year for the Company and look forward to reporting progress across a number of fronts in coming months.”
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 +44 (0) 207 776 1200 Juliet Thompson/ Clare Terlouw
Financial Dynamics +44 (0) 207 831 3113 Ben Brewerton/ Susan Quigley
