ALK Abello Q1 pretax rises 296 pct to 242 mln dkr, beats consensus |
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Published
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Tue, 22 May 2007 08:31
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COPENHAGEN (Thomson Financial) - Danish pharmaceutical company ALK Abello AS posted a first quarter pretax profit of 242 mln dkr, up 296 pct from a year earlier, and boosted by a 199 mln dkr payment from the group's partner Schering-Plough.Market expectations were for a pretax profit of 224 mln dkr according to a survey of analysts from SME Direkt.Sales were up 14 pct at 450 mln dkr while EBIT increased 321 pct to 240 mln dkr, including an up-front payment of 199 mln dkr from partner Schering-Plough earlier in the year.Market expectations were for an EBIT of 215 mln dkr and sales of 420 mln dkr.ALK Abello reiterated its outlook for the full year 2007 of sales around 1.650-1.700 bln dkr, EBIT of 200-220 mln dkr and a pretax profit of 130-150 mln dkr.The organic growth rate in sales of allergy vaccines is seen at 15-19 pct, it added.'During the period, organic sales growth was generated in all key markets, especially due to strong growth in the sales of allergy vaccines,' ALK Abello said.Sales of the group's first tablet-based allergy vaccine Grazax reached 10 mln dkr, in line with its own expectations.ALK Abello said it still expects Grazax to be launched on all of the group's principal European markets.gustav.sandstrom@thomson.comgs/jlwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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