Stallergenes: 2008: Sales Up 16% – Excellent Performance – Guidance Exceeded
ANTONY, France, January 15 /PRNewswire-FirstCall/ -- EUR millions 2007 07/06 2008 08/07 EUR % sales % change EUR % sales % change millions millions Southern Europe (1) 32.0 75 14 36.4 73 14 Other EU Countries 9.7 22 17 11.3 23 17 (2) Other markets 1.4 3 10 2.0 4 45 SLIT 34.6 80 21 40.4 81 17 SCIT 7.1 17 4 7.5 15 6 Other products 1.4 3 (25) 1.8 4 32 Total Q4 sales 43.1 100 15 49.7 100 15 Southern Europe (1) 109.2 74 17 124.9 73 14 Other EU countries 32.5 22 16 38.5 23 18 (2) Other markets 5.4 4 11 7.5 4 38 SLIT 116.5 79 21 137.9 81 18 SCIT 24.9 17 3 26.3 15 6 Other products 5.7 4 (7) 6.7 4 16 Cumulative 12-month 147.1 100 16 170.9 100 16 sales (1) Portugal, Spain, France, Italy, Greece; (2) Switzerland included Sales growth and financial position, 2009 outlook
4th quarter sales continued to register strong growth in all markets (up
15%, after 15% in 2007). The performance of non-EU markets in particular was
remarkable during the quarter, as throughout the whole year. The sub-lingual
route remained the main driver of this growth with an 18% increase over the
Overall, 2008 sales totalled
line with the strong growth consistently achieved since 2003 (average 15%
Full-year results will be markedly improved compared to 2007, which will
enable the Group to finance its development plans while maintaining a
positive free cash flow for the fourth consecutive year.
As regards 2009, the Group remains prudent and currently provides
guidance of sales growth between 8 and 10%. 2009 will also feature a number
of significant clinical test results as part of the Oralair programme.
Significant 4th quarter transactions and events
Oralair(R) Grasses quarterly sales in
expectations. The marketing authorization for the use Oralair(R) Grasses on
children, which should be delivered very soon by the German agency, will set
the European mutual recognition procedure of the product in motion.
FDA for the use of Oralair(R) Grasses in clinical trials in adults. This
study is proceeding satisfactorily.
In order to exert better control over its operations in
distribute its products in these two countries from the start of 2009. At the
end of this procedure, Stallergenes will have a subsidiary in
current distributor in
At today’s meeting, the Board of Directors took note of the AFEP/MEDEF
companies. The Board considers that these recommendations are consistent with
the Company’s corporate governance policy and gave the Remuneration Committee
the responsibility to carry out a detailed review of the rules governing
their implementation within the Group.
Consequently, the Board of Directors confirms in principle that in
application of the Law of
be the benchmark the Group will refer to in the preparation of the Chairman
of the Board’s report on corporate governance, which will explain and specify
the rules implemented by the Group.
Stallergenes is a European biopharmaceutical company dedicated to
desensitization therapies for the prevention and treatment of allergy-related
respiratory diseases, e.g. rhinoconjunctivitis and allergic asthma. A pioneer
and leader in sublingual desensitization treatments, Stallergenes devotes 20%
of its sales in gross resources to Research and Development and is actively
involved in the development of a new therapeutic class: sublingual
In 2008, Stallergenes had sales of
desensitization treatments to more than 500,000 patients.
Euronext Paris (Compartment B) SBF 120. ISIN Code: FR0000065674 Reuters Code: GEN.PA Bloomberg Code: GEN.FP
Additional financial information is available at