ALK Abello delivers 11% revenue growth; operating profit up 120%
Danish allergy immunotherapy specialist ALK Abello (ALKB: DC) has posted financial results showing that revenue grew by 11% to 1.14 billion kroner ($165 million) in the second quarter of 2023, which was 2% ahead of analysts’ estimates, driven by 17% growth in tablet sales and double-digit growth in combined SCIT/SLIT-drops sales.
The company’s shares edged up2.2% to 79.25 kroner on the news.
Second quarter operating profit (EBIT) increased by 120% in local currencies, which equates to 98% in reported currency, on sales growth and gross margin improvements, which were partly offset by a minor increase in capacity costs. EBIT was 97 million kroner with an EBIT-margin of 9% (5), resulting in a 14% (12) EBIT-margin for the first half year.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze