COPENHAGEN: Shares of Danish allergy specialist ALK-Abello (ALKB: DC) moved up 3.0% to 960 Danish kroner by early afternoon, following the company’s announcement of second-quarter 2016 results showing strong sales and earnings growth.
Total revenue for the quarter, including partner income, grew organically by 41% to 773 million kroner ($116.2 million).Revenue in the base business grew organically by 43% to 762 million kroner.
Operating profit (earnings before interest, taxes, depreciation and amortization; EBITDA) in the second quarter was 159 million kroner and the EBITDA margin was 21% (2%). EBITDA before special items was 167 million kroner.
First-half total revenue was 1,621 million kroner, up 33.4% and base business revenue was 1,569 million kroner, following 36% organic growth. First-half EBITDA before special items was 463 million kroner compared with 158 kroner in the first half of 2015.
ALK continued to record high double-digit sales growth in Europe and North America in the second quarter. Sales in Europe benefited from continued increase of new orders in France and other markets which were affected by the temporary suspension of production at ALK’s main competitor. ALK sales also benefited from an accelerated shift in favour of registered products.
European sales of SLIT-tablets doubled, thanks to strong growth in Grazax sales, while Acarizax continued to progress ahead of plans in its introductory phase, and has already become the most prescribed product for new AIT initiations in adult patients with house dust mite allergy in Denmark and Germany.
