Update on Lincoln Medical Final

RNS Number : 3604U

Allergy Therapeutics PLC

27 December 2012

 



27 December 2012   

Allergy Therapeutics plc
("Allergy Therapeutics" or "the Company")

Update on Anapen®

Allergy Therapeutics plc (AIM: AGY), the fully integrated specialty pharmaceutical company, announces that it has terminated the agreement with Lincoln Medical Limited, the producer of Anapen® (adrenaline for injection), for the Anapen® distribution rights in a number of countries.

On 23 May 2012 Allergy Therapeutics reported that Lincoln Medical was undertaking a voluntary drug recall of Anapen® for all unexpired units of the product in the UK, as a precautionary measure. The voluntary recall was related to a potential problem with delivery time and delivery volume of the dosage following activation of the auto-injector. Allergy Therapeutics has, after due consideration, decided to terminate its agreement with Lincoln Medical.

Manuel Llobet, Chief Executive Officer, commented:

"The board has decided that terminating the arrangement with Lincoln Medical is in the best interests of the Company. Although disappointing to lose a product line, the Anapen® contract did deliver a net positive return to the Company. Diversification into other geographies and product in-licensing opportunities continue to be explored in line with the Group's strategy for growth."

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For further information

Allergy Therapeutics	[phone]
Manuel Llobet, Chief Executive Officer
Ian Postlethwaite, Finance Director
www.allergytherapeutics.com
Nomura Code Securities	[phone]
Juliet Thompson/ Clare Terlouw
FTI Consulting	[phone]
Simon Conway/Susan Stuart

About Allergy Therapeutics

Allergy Therapeutics is a specialty pharmaceutical company focused on allergy vaccination. It has a growing business achieving gross sales for the previous financial year of £43.8 million, mainly in Europe through its own sales and marketing infrastructure and further afield through distributors. The Company is expanding its infrastructure into the Emerging Markets.

 

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