ALK Abello rises as it releases 2019 report

Shares of Danish allergy immunotherapy specialist ALK Abello (ALKB: DC) were up more than 9% at 1,964 Danish kroner by late morning, as the company released its annual report for 2019, saying it reached 11% growth in 2019 and closed the year ahead of schedule with its strategic transformation plan, targeting sustainable double-digit growth and earnings on a par with the specialty pharma sector. The fourth quarter continued the positive momentum seen in previous quarters, so that revenue and earnings ended at the upper end of the most recent guidance range.

Revenue for full-year 2019 increased 11% in local currencies and 12% in reported currency to DKK 3,274 million kroner ($485.6 million). Sales of tablets grew by 45%. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 77% to 241 million kroner due to revenue growth, better margins and efficiencies.

Q4 2019 performance