alk-abello a/s (AKBLF) Key Developments
ALK-Abelló A/S Announces Earnings Results for the Second Quarter and First Half of 2015; Revises Earnings Guidance for the Year 2015
Aug 18 15
ALK-Abelló A/S announced earnings results for the second quarter and first half of 2015. For the quarter, the company continued to deliver underlying growth in its base business in line with that of the first quarter of 2015. Overall financial performance was impacted by lower milestone payments compared to last year: second quarter revenue, including partner income, amounted to DKK 565 million from DKK 615 a year ago. Second quarter revenue in the base business grew by 1% in local currencies to DKK 546 million from DKK 516 a year ago. Underlying growth was 4% when adjusted for last year's one-off upfront payment from ALK's collaboration partner for China. Second quarter partner income from SLIT-tablets was DKK 19 million against DKK 99 million, due to lower milestone payments. Second quarter EBITDA before special items was DKK 20 million against DKK 109 million a year ago. Excluding milestone payments and sales royalties, EBITDA before special items increased to DKK 19 million from DKK 10 million a year ago.
For the first half period, the company’s first half total revenue was DKK 1,215 million against DKK 1,299 million a year ago and base business revenue growth was 3%. First half EBITDA before special items was DKK 158 million against DKK 320 million a year ago. Excluding sales royalties and milestone payments, EBITDA before special items grew to DKK 151 million against DKK 140 million a year ago, reflecting improved underlying profitability in the base business.
For the year 2015, the full-year guidance has been adjusted to reflect the year-to-date sales growth in the base business and postponed investments: The company now expects to grow revenue in the base business by 3-5% in local currencies (previously 0-5%) based on low single-digit growth in Europe and high single-digit growth in non-European markets. Full-year revenue for the base business is expected to be DKK 2.3 billion to DKK 2.35 billion (previously DKK 2.25 billion to DKK 2.35 billion). The SLIT-tablet partnerships in North America and International markets are expected to generate additional revenue in the form of sales royalties, product supply, service fees and, potentially, milestone payments. Operating profit (EBITDA before special items), excluding sales royalties and milestone payments from partnerships, is expected to be in the range of DKK 250 million to DKK 300 million (previously DKK 225 million to DKK 300 million). Exchange rates are not expected to materially affect EBITDA. Free cash flow is projected to be negative in the range of DKK 50 million to DKK 150 million excluding sales royalties and milestone payments from partners (previously negative in the range of DKK 100 million to DKK 200 million). The company has strengthened its financial position through an increase of mortgage loans of net DKK 330 million.
ALK-Abelló A/S, H1 2015 Earnings Call, Aug 18, 2015
Aug 10 15
ALK-Abelló A/S, H1 2015 Earnings Call, Aug 18, 2015
Alk Abello A/S and Merck Announce Encouraging Results from Phase III Allergic Rhinitis Trial
Jun 15 15
Alk Abello A/S has announced encouraging results from its partner, Merck, or MSD's North-American Phase III clinical trial of ALK's investigational sublingual allergy immunotherapy tablet, or SLIT-tablet, for the treatment of house dust mite, or HDM, allergic rhinitis. The trial demonstrated a statistically significant improvement in the primary endpoint in favour of HDM SLIT-tablet compared with placebo. The primary endpoint of the trial was to demonstrate a reduction in the 'Total Combined Rhinitis Score' (TCRS) which is the sum of the average daily rhinitis symptom score and the average daily medication score. The trial also showed that the treatment was generally well tolerated. The trial, a randomised, multi-centre, placebo controlled, double-blind, comparative trial, was initiated by MSD in March 2014 to further investigate the safety and efficacy of the HDM SLIT-tablet in patients with HDM allergic rhinitis. It involved approximately 1,500 patients in the USA and Canada and is part of the world's large ever allergy immunotherapy development programme, which also includes trials in Europe and Japan. MSD has informed ALK that they now plan to discuss the data and the plans for a regulatory submission of a Biological License Application (BLA) for the HDM SLIT-tablet with the FDA. The HDM SLIT-tablet is currently undergoing regulatory reviews in Europe and Japan based on a combined clinical development programme involving more than 4,000 patients, including the completion of two positive Phase III clinical trials for the treatment of HDM allergic rhinitis and one positive Phase III trial for the treatment of HDM allergic asthma.
ALK-Abelló A/S Presents at Nordic Mid/Small Cap Seminar, Jun-02-2015
Jun 2 15
ALK-Abelló A/S Presents at Nordic Mid/Small Cap Seminar, Jun-02-2015 . Venue: Stockholm, Sweden.
ALK-Abelló A/S Presents at Goldman Sachs 36th Annual Global Healthcare Conference, Jun-10-2015 08:40 AM
May 27 15
ALK-Abelló A/S Presents at Goldman Sachs 36th Annual Global Healthcare Conference, Jun-10-2015 08:40 AM. Venue: Terranea Resort, Rancho Palos Verdes, California, United States. Speakers: Flemming Pedersen, Chief Financial Officer, Executive Vice President and Member of Management Board.