16th Jan 2019 12:26
LONDON (Alliance News) - Allergy immunology vaccines developer Allergy Therapeutics PLC said Wednesday trading in the first half was in line with expectations.
Allergy Therapeutics expects to record revenue of GBP46.7 million for the six months to December 31 versus GBP42.2 million the year before, an 11% increase.
The commercial biotechnology company said its strongest sales growth was seen in Germany, Austria, Switzerland and the Netherlands.
Allergy Therapeutics noted growth in Spain continued despite the withdrawal of all bacterial products across the market.
The company said its ultra-short course, aluminium-free treatments - such as Pollinex and Pollinex Quattro - and Acarovac and Venomil products are the main drivers of revenue growth.
"This is another period of revenue growth and continued gain in market share for Allergy Therapeutics, in line with our mid and long-term strategy," said Chief Executive Officer Manuel Llobet.
Allergy Therapeutics said it continues to make "good progress" with its peanut allergy vaccine outsourced manufacturing scale up and the Acarovac Phase I trial for dust mite allergies.
Llobet added: "The group is also making good progress across its clinical pipeline, with a number of key developments anticipated for the first half of this year. We see momentum in the business and look forward to updating the market at our interim results."
Shares in Allergy Therapeutics were up 3.1% Wednesday at 14.125 pence each.
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