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Allergy Therapeutics posts double digit revenue growth

The company expects revenues to be in the order of £31.5mln in the first half of its financial year, which equates to a 12% rise at constant currencies.
Allergy Therapeutics posts double digit revenue growth
The company's products provide vaccines against certain pollens.

Allergy Therapeutics (LON:AGY) said it is gaining market share in all of its major European territories as it gave an upbeat assessment of current trading.

It expects revenues to be in the order of £31.5mln in the first half of its financial year, which equates to a 12% rise at constant currencies.

This solid performance was supported by acquisition of Alerpharma last June.

Chief executive Manuel Llobet told investors: “Overall we are executing our business strategy and, in addition to growing our European business, remain focused on executing a pivotal clinical trial programme, potentially paving the way towards the US and expanding into new market segments with a strong new product pipeline. 

“Our business is now in a very strong position to generate continuing growth over the coming years."

The company has developed a suite of treatments aimed at common pollen allergies that have created a very sound business in Europe.

Analysts reckon a long-term opportunity will come in the States where the company’s flagship product, Pollinex Quattro, is set to hit the market in the next three to four years.

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