2nd quarter growth remained high at 9% (organic* 8%), but slowed downcompared with the very strong start of the year. Sales growth over the firsthalf-year remained strong at 12% (organic 11%), reflecting the continuingbreakthrough of the sublingual route (+14%), which represented 83% of totalsales.
Advertisement
The analysis by geographic region highlights the sharp increase of "OtherEU countries" to 30% of sales, primarily due to the successful launch ofOralair(R) and the price increases introduced in Germany, as well as thetransfer of the operations to a subsidiary in Switzerland.
Advertisement
Growth was more moderate in Southern Europe (up 9%). In addition to theconsequences of weak pollen seasons in 2008, these markets appeared moreaffected by the economic crisis in a context of partial reimbursement (Italyand Spain).
The decline in "Other markets", a very diverse group whose performance isvolatile, was mostly due to exceptional 2008 sales and foreign exchangeeffects.
HY1 highlights
5 years of research were rewarded in the 1st half-year 2009 with thepositive results of the phase III clinical study carried out on the housedust mite desensitization tablet.
Moreover, the mutual recognition procedure for Oralair(R) (grass pollendesensitization tablet) started at an operational level and should lead toregistration in most European countries by the end of 2009.
Outlook
The 1st half-year 2009 financial results, to be published on 26 Augustnext after close of trading, should report a slight improvement over the 1sthalf-year 2008.
We confirm our previously issued full-year guidance of sales growth ofabout 10% and an operating profit maintained at the same high level as 2008,against a background of strong accompanying R&D investments.
Lastly, the second half-year will be marked by a particularly busy newsflow: 3 Oralair(R) phase III studies (US, 3rd year of long-term study,protocol optimization), 1 phase IIb/III study on the birch pollendesensitization tablet, which for the first time includes a recombinantallergen, and 1 phase III Staloral(R) study on asthma, carried out in China.
Shareholders' agenda
The 2009 first half-year results will be presented on 27 August 2009 at11.30am CET at Le Bristol hotel, 112, rue du Faubourg Saint-Honore, 75008Paris, France.
A webcast of the meeting will be available both in French and Englishfrom 3pm.
ABOUT STALLERGENES
Stallergenes is a European biopharmaceutical company dedicated todesensitization therapies for the prevention and treatment of allergy-relatedrespiratory diseases, e.g. rhinoconjunctivitis and allergic asthma. A pioneerand leader in sublingual desensitization treatments, Stallergenes devotes 21%(gross) of its sales to Research and Development and is actively involved inthe development of a new therapeutic class: sublingual desensitizationtablets.
In 2008, Stallergenes had sales of EUR 171 million and provideddesensitization treatments to more than 500,000 patients.
Additional financial information is available at:http://www.stallergenes.com
* Excluding foreign exchange effectsANTONY, France, July 15 /PRNewswire-FirstCall/ -- Million EUR 2008 08/07 2009 09/08 MEUR %Sales Var.% MEUR %Sales Var.% Southern Europe (1) 26.7 71 15 28.5 68 7 Other EU countries (2) 9.3 24 20 11.4 28 23 Other markets 2.0 5 47 1.5 4 (23) SLIT 30.3 80 21 33.8 82 12 SCIT 6.1 16 7 5.9 14 (3) Other products 1.6 4 4 1.7 4 9 Q2 sales 38.0 100 18 41.4 100 9 Southern Europe (1) 64.7 75 15 70.3 72 9 Other EU countries (2) 18.6 21 18 24.1 25 30 Other markets 3.7 4 46 3.2 3 (12) SLIT 71.3 82 19 81.0 83 14 SCIT 12.3 14 4 12.8 13 4 Other products 3.4 4 6 3.8 4 10 H1 sales 87.0 100 16 97.6 100 12 (1) Portugal, Spain, France, Italy, Greece; (2) Switzerland included
SOURCE Stallergenes
