STALLERGENES : Further Profit Growth Acceleration of R&D E... ( PARIS March 12 /-

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

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 2
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