Allergy Therapeutics Continuing to gain market share

Hardman & Co Report Report DownloadsAllergy Therapeutics Plc (LON:AGY) is a long-established specialist in the prevention, diagnosis and treatment of allergies. Pollinex Quattro continues to gain market share despite being available in the EU only on a ‘Named Patient’ basis. Investment in marketing over the last three years has been reflected in exceptional growth, with +10% CAGR in sales over the last five years compared to overall allergy vaccine market growth of +1%. In fiscal 2017, AGY gained another one-point market share to 13%. R&D investment in clinical trials for full approval as a biological in both Europe and the US are progressing with results due to be released in the second half of calendar 2018.

Strategy: AGY is a fully integrated pharmaceutical company focused on the treatment of allergies. There are three parts to its strategy: continued development of its European business via investment or opportunistic acquisitions; the US PQ opportunity; and further development of its pipeline.

2017 results: Publication of full details reinforced the strong performance indicted in the July trading statement. Underlying sales grew +15% to £64.1m (£48.5m), gross margins improved to 73.9% (71.0%), and product profitability rose +44% to £20.5m (£14.2m). R&D investment was lower at -£9.3m (-£16.2m).

Trial update: The PQ Grass/MATA MPL safety study for a new higher dose has been completed, enabling the Phase II trial to start in the next quarter. The PQ Birch phase III field trial required for regulatory filings has started recruiting in Europe. Both trials are expected to report by the end of calendar2018.

Regulation: Both the EU (via TAV) and US (via FDA) regulators are looking to instil more control in their respective markets with improved regulation. AGY is as well placed as anybody to reap the benefits of this, being one of the most advanced in terms of trials, which augurs well for future growth prospects.

Investment summary: Allergy Therapeutics Plc is going through an exciting period, with a clear vision, gaining market share from competitors, and leading the race to have its products fully approved and regulated as biologicals, first in Europe, then in the US, where the regulators are demanding change. Read-out from the EU Phase III PQ Birch trial in 2018 will provide a significant value inflexion point.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Hardman & Co

More articles like this

Allergens dominate UK food recalls, finds study

More than half of food recalls in the United Kingdom over a 5-year period were due to allergens, according to a recently released study. Allergen-related recalls increased annually until 2019, peaking at 118 before decreasing to

Allergy Therapeutics welcomes new Non-Executive Directors

Allergy Therapeutics announced the appointments of Anthony Parker and Simon Shen to its Board as Non-Executive Directors effective immediately. “I would like to welcome Anthony and Simon. Southern Fox and ZQ Capital have been long-standing and supportive shareholders of Allergy

Allergy Therapeutics updates on its clinical programmes

Allergy Therapeutics plc (LON:AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, has announced that the first subject has been dosed in the pivotal Phase III G306 trial, to evaluate the efficacy and safety of

Allergy Therapeutics appoints two Non-Executive Directors

Allergy Therapeutics plc (LON:AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, has today announced the appointments of Anthony Parker and Zheqing (Simon) Shen as Non-Executive Directors of the Company, with immediate effect. Anthony represents

Allergies and Thanksgiving

As Thanksgiving and other holiday celebrations bring people around the table, Intermountain Healthcare dietitians say it’s crucial to take food allergies into consideration when planning the big meal. “A response to an allergic reaction can be

Allergy Therapeutics appoints Martin Hopcroft as interim CFO

Allergy Therapeutics plc (LON:AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, has announced the appointment of Martin Hopcroft to the role of Interim Chief Financial Officer (CFO). Martin will report into Chief Executive

Food business operator fined for allergy breach

A food business operator based in Newcastle, England has been fined in court after serving a dish containing peanuts to a woman with a peanut allergy, resulting in her being hospitalised. According to the Food Standards

Are restaurants taking allergies seriously?

In an engaging panel held at Twickenham Stadium as part of New Food’s Food Safety Conference 2022, experts came together to debate whether food allergy regulations in restaurants are sufficient. Here’s the highlights. Are restaurant allergy

Allergy Therapeutics Subscription to raise £7 million

Allergy Therapeutics plc (LON:AGY), the fully integrated specialty pharmaceutical company specialising in allergy immunotherapy, today announces a conditional Subscription by the Subscribers, Southern Fox and ZQ Capital (acting through its affiliate SkyGem), to raise £7 million