Significant progress made towards becoming a global provider of allergy solutions
Allergy Therapeutics plc, the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announces preliminary results for the year ended 30 June 2015.
Highlights
• 11% increase in revenue at constant currency* to £46.6m (2014: £42.0m)
• 3% increase in revenue to £43.2m (2014: £42.0m)
• Gross profit increased 4% to £31.1m (2014: £30.0m)
• Operating profit increased 50% to £1.8m before impact of revaluation of US dollar cash deposits (2014: £1.2m)
• Operating profit of £0.7m (2014: £1.2m)
• Net cash generated by operations increased to £2.5m (2014: £2.3m)
• £20m fund raising (net of expenses) in March 2015 to fund US clinical study programme
• Acquisition of Alerpharma S.A. in early June strengthens Spanish business
• Positive results from Acarovac Plus clinical study demonstrates excellent patient tolerability
• Continued successful rollout of European probiotic products
Manuel Llobet, Chief Executive Officer, commented:
“This year we have made significant progress towards becoming a global provider of allergy solutions. Following our successful placing to raise £20 million net in March we have resumed the clinical development programme for Pollinex Quattro Grass in the US. Pollinex Quattro Grass has the potential to be the first seasonal subcutaneous allergy vaccine to reach the US market, which would be a transformational event for the Company.
We also strengthened our European position, demonstrating double digit growth in a flat market and significantly outperforming our competition. The acquisition of Alerpharma in June enables the Company to continue to build a strong growth platform in Europe and to further open up the opportunity for an increase in market share in Spain. Growth in the European markets is expected to be relatively slow in the coming year but with the continued momentum across the Company’s activities, the outlook is very positive and we expect to increase our market share into the next year, delivering improved top-line growth. The Company will continue its plan to consolidate its position in the European markets, as well as progressing with the clinical development programme within the regulated framework in Germany (TAV).”
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Allergy Therapeutics plc, the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announces preliminary results for the year ended 30 June 2015.
Highlights
• 11% increase in revenue at constant currency* to £46.6m (2014: £42.0m)
• 3% increase in revenue to £43.2m (2014: £42.0m)
• Gross profit increased 4% to £31.1m (2014: £30.0m)
• Operating profit increased 50% to £1.8m before impact of revaluation of US dollar cash deposits (2014: £1.2m)
• Operating profit of £0.7m (2014: £1.2m)
• Net cash generated by operations increased to £2.5m (2014: £2.3m)
• £20m fund raising (net of expenses) in March 2015 to fund US clinical study programme
• Acquisition of Alerpharma S.A. in early June strengthens Spanish business
• Positive results from Acarovac Plus clinical study demonstrates excellent patient tolerability
• Continued successful rollout of European probiotic products
Manuel Llobet, Chief Executive Officer, commented:
“This year we have made significant progress towards becoming a global provider of allergy solutions. Following our successful placing to raise £20 million net in March we have resumed the clinical development programme for Pollinex Quattro Grass in the US. Pollinex Quattro Grass has the potential to be the first seasonal subcutaneous allergy vaccine to reach the US market, which would be a transformational event for the Company.
We also strengthened our European position, demonstrating double digit growth in a flat market and significantly outperforming our competition. The acquisition of Alerpharma in June enables the Company to continue to build a strong growth platform in Europe and to further open up the opportunity for an increase in market share in Spain. Growth in the European markets is expected to be relatively slow in the coming year but with the continued momentum across the Company’s activities, the outlook is very positive and we expect to increase our market share into the next year, delivering improved top-line growth. The Company will continue its plan to consolidate its position in the European markets, as well as progressing with the clinical development programme within the regulated framework in Germany (TAV).”
For full access, please click here.
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