Navigation Links
Stallergenes: First Half Year 2008: A 19% Increase in Operating Profit and Net Profit
Date:8/27/2008

ANTONY, France, August 27 /PRNewswire-FirstCall/ -- The Board of Directors, meeting today under the chairmanship of Albert Saporta, approved STALLERGENES' half year consolidated financial statements:

(EUR millions) 2007 HY1 2008 HY1 08/07

% of % of %

sales sales change

Sales 74.8 100.0 87.0 100.0 16

Cost of sales (16.9) (22.5) (19.9) (22.8) 18

Gross profit 57.9 77.5 67.1 77.2 16

General, administrative and selling (31.3) (41.9) (35.1) (40.3) 12

expenses

Gross operating profit before R&D 26.6 35.6 32.1 36.8 21

R&D (11.2) (15.0) (13.7) (15.7) 22

EBIT 15.4 20.6 18.4 13.8 19

Net profit (Group share) 10.1 13.6 12.0 13.8 19

Net borrowings 9.3 4.2 (54)

Sales growth and financial position

The first half of 2008 witnessed a marked increase in operating profitability, which benefited from sales growth. Gross profit as a percentage of sales remained stable at 77%.

R&D expenses were up 22%, reflecting the stepped-up allergen tablet development programme.

Operating profit totalled EUR 18.4 million, an increase of 19% that showed a further improvement in operating profit margin to 21.1% of sales.

Net profit concurrently increased by 19% to EUR 12 million.

The financial position improved: net borrowings declined by 54% and now only represent 6% of equity, compared to 17% at end June 2007 (16% at 31 December 2007).

Significant HY1 2008 transactions and events

On 24 June 2008, Stallergenes was granted the marketing license in Germany for the adult indication of ORALAIR(R) Grasses, enabling the effective commercial launch of the product prior to the next pollen season. The paediatric indication should be granted in Germany by the end of the year.

A clinical study authorisation request (IND) was filed with the FDA in the US on 25 July 2008, with a view to conducting a Phase III ORALAIR(R) Grasses/adult study in 2009.

Stallergenes has implemented a building project for administrative facilities located near its current site in Antony, France. This investment will total about EUR 20 million, to be primarily incurred over 2009 and 2010.

Outlook for the current financial year

Stallergenes has raised its minimum 2008 full-year sales guidance upwards to 12%.

The Group will dedicate additional resources in HY2 to the development of ORALAIR(R) Grasses in the US and to fitting out laboratories at the new plant. Against this background, full-year net profit and debt levels should remain close to those of the previous year in absolute value terms.

Contacts with potential partners for the development and selling of allergen tablets in the US are continuing.

The half-year financial report is available from our website: http://www.stallergenes.com

About Stallergenes

Stallergenes is a European biopharmaceutical laboratory specialising in the treatment by desensitisation of allergy-related respiratory conditions, such as rhino conjunctivitis or allergic asthma. A pioneer and a leader in desensitisation treatments by sublingual administration, Stallergenes dedicates 16% of its sales to its Research and Development activities, which are primarily directed at developing a new therapeutic range enabling the provision of desensitisation treatments by sublingual tablets.

Stallergenes realised 2007 sales of EUR 147 million, with over 500,000 patients treated with Stallergenes desensitisation products.

Stallergenes trades on Compartment B of the Euronext Paris Stock Exchange and is a component of the SBF 120 index.

ISIN Code: FR0000065674

Reuters Code: GEN.PA

Bloomberg Code: GEN.FP

For further information, please visit our website: http://www.stallergenes.com


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

Related biology technology :

1. Stallergenes: Q2 2008 Sales up 18% Revision Upwards of 2008 Sales Growth
2. STALLERGENES: 2007: A Further Year of Strong Growth: Up 16%
3. STALLERGENES: ORALAIR Grasses: Positive Results of VO52.06 Paediatric Study
4. Gleevec Receives FDA Priority Review as First Therapy to Reduce Recurrence of Gastrointestinal Stromal Tumors After Surgery
5. States First Single Incision Robotic Kidney Removal Performed at Henry Ford Hospital
6. Huifeng Bio-Pharmaceutical (HFGB) to Attend CPhI South America 2008 Pharmaceutical Conference; The First CPhI Conference to be held in the Emerging Market of Brazil
7. Natures Premium(R) Brand First Fresh Pork in North America to Carry DNA TraceBack(R) Seal of Authenticity
8. Video: CSL Behring Provides $1.2M Grant for Worlds First Study of Postpartum Women with VWD, Common Bleeding Disorder
9. China-Biotics, Inc. Reports First Quarter 2009 Financial Results
10. Huifeng Bio-Pharmaceutical (HFGB) Reports over $5 Million in Gross Sales; Record Results for the First Half of 2008
11. Repair Stem Cell Institute Announces Industrys First Standards of Excellence for Global Stem Cell Treatment Centers to Protect Patients from Less-than-Competent Therapeutics
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... , Feb. 4, 2016  CytoSorbents Corporation (NASDAQ: ... commercializing its flagship CytoSorb® blood filter to treat ... around the world, announced that CEO Dr. ... the Source Capital Group,s 2016 Disruptive Growth & ... the company.  Conference Presentation Details: ...
(Date:2/4/2016)... 4, 2016 Sinovac Biotech Ltd. ("Sinovac" or ... of biopharmaceutical products in China , ... of directors received on February 4, 2016 a preliminary ... consortium comprised of PKU V-Ming ( Shanghai ... CICC Qianhai Development ( Shenzhen ) Fund ...
(Date:2/3/2016)...  Discovery Laboratories, Inc. (NASDAQ: DSCO ), ... surfactant therapies for respiratory diseases, today announced that ... award as a component of employment compensation for ... and Chief Executive Officer.  The award was approved ... 2016 and granted as an inducement material to ...
(Date:2/3/2016)... ... 2016 , ... Aerocom, a world-leading supplier of pneumatic tube ... healthcare market. , Aerocom Healthcare, LLC will be based in Denver, Colo., and ... pneumatic tube systems or expand existing systems within the U.S. and Canada. ...
Breaking Biology Technology:
(Date:2/2/2016)... 2, 2016 Technology Enhancements Accelerate Growth of X-ray ... the digital and computed radiography markets in ... Indonesia (TIM). It provides an ... as well as regional market drivers and restraints. The ... penetration and market attractiveness, both for digital and computed ...
(Date:2/1/2016)... , Feb. 1, 2016  Wocket® smart wallet ( www.wocketwallet.com ) announces ... personality, Joey Fatone . Las Vegas , ... --> Las Vegas , where Joey appeared ... The new video ad was filmed at the Consumer Electronics Show ... the Wocket booth to meet and greet fans. ...
(Date:1/22/2016)... DUBLIN , January 22, 2016 ... has announced the addition of the  ... to their offering. --> ... of the  "Global Behavioral Biometric Market ... --> Research and Markets ( http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ...
Breaking Biology News(10 mins):