Allergy Therapeutics has a strong presence in Europe with established operations in Germany, Italy, Spain, Austria, Switzerland, the Netherlands and the United Kingdom.
In markets where we do not have a direct presence, we often make our products available through partners. The most important distributor markets for the Group are Canada, the Czech and Slovak Republics, South Korea and, more recently, Greece and the Baltics.
For the purposes of the segmental reporting analysis, Central Europe represents the markets of Germany, Austria, the Netherlands and Switzerland. Southern Europe represents Spain, Italy and Portugal. The 'Other’ segment represents revenues through distributors and agents in other worldwide markets including Canada, Czech and Slovak Republics, South Korea and Latin America.
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Austria is an established market with total market sales of approximately €18 million per year. Our direct operation is performing well.
Bencard Allergie GmbH
Tel 0043 1/606 1111
Germany is the largest allergy immunotherapy market in Europe, with annual sales of over €320 million. In recent years, the market has been affected by the austerity measures introduced by the German government in 2010 and by the new regulatory environment for allergen therapies. Germany remains a key focus for us and we continue to strengthen our approach to marketing products. This has been instrumental increasing our market share.
Bencard Allergie GmbH
Tel +49 89 3681150
The total market size in the Netherlands represents around €30 million in sales per year. Insurance companies decided in January 2014 that they would reimburse only registered products. This new policy takes effect from January 2015 and impacts approximately 50% of the products currently in the market. This does not impact our products, though, as we already have one in this market. Allergy Therapeutics is the only allergy company showing growth in the Dutch market with year on year growth in revenue of 21%.
Allergy Therapeutics Netherlands B.V.
3824 MP Amersfoort
T: 088 2553749
F: 088 2553750
3800 GK Amersfoort
The total Italian allergy immunotherapy market is estimated to be worth €50 million in sales per year. The market is falling because patients have been impacted by adverse economic conditions which affect their ability to pay for vaccines. The Italian immunotherapy market is dominated by sublingual products. Despite economic challenges, we believe that there is still significant opportunity to grow our business in this important market.
Allergy Therapeutics Italia Srl
Via IV Novembre 76
Tel +39 02 45675211
Total market sales in Spain are estimated to be €60 million per annum, with low single-digit growth during the past year. Growth in this market has been impacted by the country’s economic slowdown. However, Spain is still a large, valuable market, with approximately 150,000 patients a year estimated to receive immunotherapy. Injectable immunotherapy products of modified allergen remain the treatment of choice for Spanish physicians in this treatment category.
Allergy Therapeutics Iberica. S.L.
Joan XXIII, 15-19, 1º 2º ,
08950 Esplugues de Llobregat,
Tel +34 93 4751390
The allergy vaccine market in Switzerland is well established and worth approximately €14 million per annum. Further alignment to EU regulations for specific immunotherapy (SIT) products and diagnostics has the potential to generate new opportunities.
CH 8606 Greifensee
Tel: ++41 44 9420013
The UK is an important market due to its potential for future growth. While there is currently limited use of allergy vaccines in the UK at the moment, there is the potential that this will change. Consequently, the Group has focused its efforts on marketing to the medical community to promote greater awareness of more suitable allergy treatment options.
Tel +44 (0)1903 844 700
In 2012, we set up a new marketing operation in Argentina and launched our first products to Argentina, Venezuela, Colombia and Chile. Sales have been slow to date due to regulatory hurdles in these Latin America markets. However, this region is still seen as having promise.
Shinkwang New Drugs Co. Ltd
Rm 319 Theoville
1355-17 Seocho 2 Dong
Tel +82 2 5556330
Recent Developments in US Market
Over the last financial year, a significant new potential market opportunity has arisen in the US for allergy vaccine products. In December 2013 and January 2014, the Food and Drug Administration (FDA) held two Allergenic Products Advisory Committee (APAC) review meetings, during which three new sublingual immunotherapy (SLIT) products were recommended for licence approval in the US. All three products were subsequently licensed in 2014. These are the first allergy vaccine products to be formally approved by the FDA in the US. This opens the door for subcutaneous immunotherapy (SCIT) products to be licensed. SCIT products offer a number of advantages over the recently licensed SLIT products and are now more aligned to current allergist immunotherapy practice in the US. Allergy affects 15-40% of the US population (i.e. circa 50 million people), so the total market size for allergy vaccines products is potentially large. We continue to review and make progress towards registration for our products in this important market.