ALK Abello shares dip as profit slumps
Danish allergy immunotherapy specialist ALK Abello (ALKB: DC) today released financial results, showing that sales in the fourth quarter of 2017 were up 1.2% at 763 million Danish kroner ($127.6 million), +4% in local currencies, with operating profit down 36.5% at 61 million kroner, with the news sending the firm’s share 2.66% lower at 696.00 kroner.
There was a 59% growth in tablet sales: strong European growth and first Acarizax (HDM SLIT) sales in North America.Sales of legacy SCIT and SLIT-drops products continued to be weakened by supply constraints.
For full-year 2017, the company said that overall performance was as expected and in line with guidance, mainly reflecting market normalizations in Europe after the market disruptions, which boosted ALK revenue and operating profit to record-highs in 2016. Earnings were as anticipated impacted by significant investments in the build-up in North America, in retaining market leadership in Europe, in the roll-out of Acarizax and in establishing a robust product supply chain:
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