Sales at Allergy Therapeutics affected due to weak German market
A further development of a product that is aimed at curbing pollen allergy, if allowed, by the U. S. health regulators, would help sending its shares up 13 per cent, as stated by Britain's Allergy Therapeutics.
The company said, “The FDA has informed the company of its intention to lift the clinical hold in order to allow the development of MATA-MPL products.”
Even before a commercial launch, drugs that are investigational or approved, are prescribed by physicians and its vaccines against allergens like grass pollen in Europe on a named patient basis are being sold by the specialty pharmaceutical company.
The company's pretax profit was about 5.6 million pounds in 2009 and for the first half ended December 31, this profit rose to 6 million pounds.
Some product range was withdrawn due to a new regulation in Germany and revenue was almost flat at 27.4 million pounds, hit by a weaker pollen count.
The company’s revenue of almost 70 per cent is with Germany.
It was seen that on Monday at the London Stock Exchange, shares of the company rose a pence to 7.9 pence.
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