Allergy Thera's loss up on pre-launch expenditure

UK-based specialist pharmaceutical company Allergy Therapeutics reported a pretax loss of L7.7 million ($14.8 million) for the six months ended December 31, 2006, up from the L540,000 loss it recorded in the comparable period in 2005. The group attributed the deficit to a reduction in its gross margin, caused by increased investment to support the impending launch of its Pollinex Quattro vaccine in the USA.

The Worthing-headquartered firm also reported that its marketing expenditure increased 7% to L5.3 million, but added that this was in line with its entry into new markets in Poland, Austria and the Czech and Slovak republics. Administration costs were up 43% to L2.6 million, due to lower foreign currency exchange gains and higher corporate expenses.

Despite the decline, the company remained upbeat, citing the 19% increase in its gross sales, to L17.5 million, as the basis for its optimism. It also said that named-patient sales of Pollinex Quattro in Europe had increased 23%, and added that this had given it further confidence that its ongoing Phase III trials in the USA would be successful (Marketletter February 12).