ALK is the largest player in the global EUR1.3bn allergy immunotherapy (AIT) market. Recent market growth has been driven by EU adoption of tablets while historically the market was dominated by shots. This has been spearheaded by ALK, as the only company with a complete tablet offering for the main respiratory allergies. ALK guides for ?10% annual topline growth into 2025 (and beyond) and for EBIT margin to reach ~25% in 2025 (FY22E: 9%). We believe this is more than achievable based on tablets...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Allergy Therapeutics delivered a solid 6% revenue growth for FY20 to £78.2m, from £73.7m, despite COVID-19 impacts taking a 2% toll. The well-established European commercial platform produced operating profit before R&D of £14.2m, from £11.3m, with R&D spend of £9.0m, from £13.2m. Pollinex Quattro Grass is set to start a pilot Phase III study before initiating full registration trials. The promising VLP-based peanut vaccine reported highly encouraging preclinical data which, if maintained, could...
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