Navigation Links
STALLERGENES : Further Profit Growth Acceleration of R&D Expenditure
Date:3/12/2008


PARIS, March 12 /PRNewswire-FirstCall/ --

- Further Profit Growth

- Sales up 16% - Profit Before R&D up 19%

- Net Profit (Group Share) up 12%

- Acceleration of R&D Expenditure The Board of Directors, meeting on 11 March 2008 under the chairmanship of Albert Saporta, approved the 2007 consolidated financial statements:

(EUR millions) 2007 As a % 2006 As a % 07/06

of sales of sales % change

Sales 147.1 100.0 126.6 100.0 16

Cost of sales (32.9) (22.3) (29.5) (23.3) 11

Gross profit 114.2 77.7 97.1 76.7 18

General, (65.1) (44.3) (55.9) (44.2) 17

administrative and

sales costs

Profit before R&D 49.1 33.4 41.2 32.5 19

Net R&D expenditure (23.8) (16.2) (18.0) (14.2) 32

Operating profit 25.3 17.2 23.2 18.3 9

(EBIT)

Net profit (Group 16.3 11.1 14.6 11.5 12

share)

Diluted earnings per EUR 1.22 EUR 1.11 10

share

Proposed dividend EUR 0.40 EUR 0.35 14

Net financial debt 10.4 (0.35) 12.0 (0.44) (14)

(x EBITDA)

Accelerated growth in 2007

Growth accelerated in all markets in 2007. The 16% sales increase reflects the vigour of sublingual route, which grew 21%, and its growing awareness among patients. Significant growth in the number of new patients confirmed growing interest in desensitisation for the treatment of allergic diseases.

This excellent sales level generated a 19% increase in profit before R&D, to EUR 49.1 million, and a 9% increase in operating profit (EBIT) to EUR 25.3 million. Net profit (Group share) was EUR 16.3 million, up 12% from the 2006 financial year. These good results must be assessed within the context of a substantial rise in R&D expenditure (up 32%) and sales expenses (up 20%) related to the tablet programme.

A stronger financial position

Net profit margin was maintained at 11.1% and continuing rigorous financial management enabled the Company to generate largely positive free cash flow and reduce net financial debt by 14% to EUR 10.4 million.

ORALAIR(R) Grasses: impending registration of adult and paediatric indications.

The registration of ORALAIR(R) Grasses in Germany should be delivered shortly. The highly positive results of the VO52 paediatric study lead us to expect paediatric extension and a launch in both indications.

Outlook

- Stallergenes expects further sales growth in 2008 (greater than or equal to 10%).

- The Group is actively preparing the commercial launch of ORALAIR(R) Grasses in Germany and now has an operational industrial platform.

- The laboratory plans to accelerate its R&D effort, which should account for 17% to 18% of sales in 2008, in order to support the current programme and the filing of an IND clinical study application in the US with a view to potential registration in this country.

- Lastly, the Company continues to study partnership proposals for the US.

Dividend

The Board of Directors will propose to the General Meeting to be held on 30 May 2008, the distribution of a dividend of EUR 0.40 per share, reflecting a 14% increase over the previous year.

About Stallergenes

Stallergenes is a European biopharmaceutical company dedicated to desensitization treatments for the prevention and cure of allergy-related respiratory diseases, e.g. rhino-conjunctivitis, rhinitis and allergic asthma.

A pioneer and leader in sublingual desensitization treatments, Stallergenes devotes 16% of its sales to Research and Development and is today fully involved in the development of a new therapeutic family, the sublingual desensitization tablets.

Stallergenes realised 2007 sales of EUR 147 million, of which half outside France.

Stallergenes' shares are listed on Eurolist Compartment B of the Euronext Paris Stock Exchange.

ISIN code: FR0000065674, Reuters code: GEN.PA, Bloomberg code: GEN.FP

For additional information on Stallergenes, please visit our website: http://www.stallergenes.com


'/>"/>
SOURCE Stallergenes
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. STALLERGENES: 2007: A Further Year of Strong Growth: Up 16%
2. STALLERGENES and Protein eXpert Enter Into a Partnership for Producing Mites Recombinant Allergens
3. STALLERGENES: ORALAIR Grasses: Positive Results of VO52.06 Paediatric Study
4. Stallergenes : 3rd Quarter Sales Up 17%: 9- Month Cumulative Sales Up 17%
5. STALLERGENES : Strong Business Growth: +17% and Earnings Per Share up 30%
6. MedImmune Strengthens Key Leadership Functions to Further Support Recently Expanded, Rapidly Advancing Product Portfolio
7. CleveMed Receives $1.5 Million in NIH Funding to Further Develop a Portable System for Monitoring Parkinsons Disease Motor Symptoms
8. SAFC Hitech(TM) Plans Further Expansion Into Asia
9. AEterna Zentaris to Further Develop Three Follow-up Multi-targeted Cytotoxic Candidates to AEZS-112 as Potential Novel Cancer Treatment
10. Agencourt Genomic Services is Key Collaborator in New Research That Further Defines Landscape of Breast and Colon Cancers
11. Organons Asenapine Further Demonstrates Efficacy in Reducing Mania Symptoms for the Treatment of Bipolar I Disorder
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... ... Supplyframe, the Industry Network for electronics hardware design and ... in Pasadena, Calif., the Design Lab’s mission is to bring together inventors and ... brought to market. , The Design Lab is Supplyframe’s physical representation of one ...
(Date:6/23/2016)... , June 23, 2016 Apellis Pharmaceuticals, ... 1 clinical trials of its complement C3 inhibitor, ... and multiple ascending dose studies designed to assess ... of subcutaneous injection in healthy adult volunteers. ... either as a single dose (ranging from 45 ...
(Date:6/23/2016)... NEW YORK , June 23, 2016 ... the trading session at 4,833.32, down 0.22%; the Dow Jones ... the S&P 500 closed at 2,085.45, down 0.17%. Stock-Callers.com has ... INFI ), Nektar Therapeutics (NASDAQ: NKTR ... BIND Therapeutics Inc. (NASDAQ: BIND ). Learn more ...
(Date:6/23/2016)... ... June 23, 2016 , ... Velocity Products, ... tools designed, tuned and optimized exclusively for Okuma CNC machining centers at The ... of a collaboration among several companies with expertise in toolholding, cutting tools, machining ...
Breaking Biology Technology:
(Date:4/28/2016)... 28, 2016 First quarter 2016:   ... compared with the first quarter of 2015 The gross ... M (loss: 18.8) and the operating margin was 40% (-13) ... Cash flow from operations was SEK 249.9 M (21.2) , ... is unchanged, SEK 7,000-8,500 M. The operating margin for ...
(Date:4/15/2016)...  A new partnership announced today will help ... in a fraction of the time it takes ... life insurance policies to consumers without requiring inconvenient ... Diagnostics, rapid testing (A1C, Cotinine and HIV) and ... weight, pulse, BMI, and activity data) available at ...
(Date:3/31/2016)... 31, 2016   ... the "Company") LegacyXChange is excited to release ... soon to be launched online site for trading 100% ... ) will also provide potential shareholders a sense of ... to an industry that is notorious for fraud. The ...
Breaking Biology News(10 mins):