24th Jul 2014 11:37
LONDON (Alliance News) - Allergy Therapeutics PLC said Thursday that it will see revenues before milestones and rebates ahead of the previous year, and above market expectations for the year to end-June.
The pharmaceutical company said that it will post revenues of GBP45.7 million, up from GBP39.9 million in the previous year. This sales growth has been driven by its improving trading performance as it continues to increase its market share in all of its main markets, supported by a foreign exchange gain of GBP2.3 million, it said.
"Our focus on ultra-short, aluminium free, subcutaneous allergy vaccines is driving consistent growth across all our key European markets," said Chief Executive Manuel Llobet in a statement. "The strong financial performance demonstrates that we are building a sound, attractive business in Europe that will be the platform for our expansion globally."
Shares in Allergy Therapeutics were trading up 5.3% at 18.82 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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