ANTONY, France, October 15 /PRNewswire/ --
(EUR millions) 2007 07/06 2008 08/07 EUR % % EUR % % millions sales change millions sales change Southern Europe (1) 20.6 71 17 23.8 70 16 Other EU countries (2) 7.1 24 17 8.6 25 21 Other markets 1.5 5 24 1.8 5 18 SLIT 22.1 76 22 26.3 77 19 SCIT 6.0 20 6 6.5 19 8 Other products 1.1 4 (4) 1.4 4 27 Total Q3 sales 29.2 100 17 34.2 100 17 Southern Europe (1) 77.2 74 17 88.6 74 15 Other EU countries (2) 22.8 22 15 27.2 22 19 Other markets 4.0 4 12 5.5 4 36 SLIT 81.9 79 21 97.6 81 19 SCIT 17.8 17 3 18.8 15 6 Other products 4.4 4 1 4.8 4 11 Cumulative 9-month sales 104.0 100 17 121.2 100 17 (1) Portugal, Spain, France, Italy, Greece; (2) Switzerland included
Sales growth and financial position
2008 third quarter sales continued to strongly increase with double digit growth in all regions, in a market primarily driven by the sublingual route (+21% in Q3, vs. +8% for the sub-cutaneous route). Cumulative 9-month sales at end September grew by 17%, the same growth rate as in 2007.
Net borrowings registered a 5% year-on-year decline at end September, confirming the Company's strong financial position, and only represented 16% of equity.
Significant Q3 2008 transactions and events
The commercial launch of ORALAIR(R) Grasses for adults took place in Germany at the end of July. The product was well received by allergy professionals. However, ORALAIR(R) Grasses' sales over the quarter were not significant since the launch occurred after the pollen season.
The marketing licence of ORALAIR(R) Grasses in its paediatric indication, which should be delivered by the German agency before the end of the year, will mark the start of the European mutual recognition registration procedure of the product.
The roll-out of the ORALAIR(R) Mites phase II/III pivotal study, initiated at the end of 2007, is continuing satisfactorily.
Lastly, Stallergenes expanded its product range following the exclusive agreement announced on 7 October for the promotion and distribution in Europe of an adrenalin auto-injector, jointly developed and manufactured by Catalent and The Medical House PLC.
Outlook for the current financial year
Due to the strong sales recorded over the quarter, the Company is in a position, for the second time this year, to review its 2008 full-year sales guidance upwards. Sales growth in the region of 14% is now expected.
As a result, at the same time as implementing a significant research and development expenditure programme, the Group's guidance is for full-year net profit slightly higher than in the previous financial year, as well as a further improved financial position, which will enhance its development resources.
About Stallergenes
Stallergenes is a European biopharmaceutical company dedicated to desensitisation therapies for the prevention and treatment of allergy-related respiratory diseases, e.g. rhino-conjunctivitis and allergic asthma. A pioneer and leader in sublingual desensitisation treatment, Stallergenes devotes 20% in raw data of its sales to Research and Development and is actively involved in the development of a new therapeutic class: sublingual desensitisation tablets.
In 2007, Stallergenes had sales of EUR 147 million and provided desensitisation treatments to more than 500,000 patients.
Stallergenes is listed in Euronext Paris (Compartment B) and is part of the sample composing the SBF 120 index. ISIN Code: FR0000065674 Reuters Code: GEN.PA Bloomberg Code: GEN.FP
Additional information is available on http://www.stallergenes.com
Contacts: Albert Saporta, CEO. Tel: +33-1-55-59-20-04, Christian Thiry - CFO, Tel: +33-1-55-59-20-95, e-mail: investorrelations@stallergenes.fr; Stallergenes press Relations, Lise Lemonnier, Communication Officer, Tel: +33-1-55-59-20-96, e-mail: llemonnier@stallergenes.fr; Pavie Finance, Investor and Analyst Relations, Lucile de Fraguier, Tel: +33-1-42-15-04-39, E-mail: contact@pavie-finance.com
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