Business
Allergy Therapeutics enters Latin America
Allergy Therapeutics enters Latin America.
About this update from Allergy Therapeutics Plc
[{"type":"text","content":"\n \nRNS Number : 8214M Allergy Therapeutics PLC 23 August 2011 \n \n\n23 August 2011\n \nAllergy Therapeutics plc\n \n(\"Allergy Therapeutics\" or \"the Company\")\n \nAllergy Therapeutics enters Latin America in line with Emerging Market strategy\n \nAllergy Therapeutics plc (AIM: \"AGY\" or the \"Company\"), the fully integrated specialty pharmaceutical company specializing in allergy vaccines, is pleased to announce that it has implemented the initial stage of its strategy to enter Emerging Markets by initiating supplies of its products to Latin America. As outlined in the interim results announcement in March, a key strategy for the Company is to expand its revenue base outside Europe, and the Company therefore intends to pursue opportunities in the Emerging Markets. \n \nInitially the Company will focus on Argentina, Columbia, Venezuela and Chile before moving into other Latin American markets. Allergy Therapeutics has established the necessary infrastructure to begin building a presence in these markets, including creating a subsidiary in Argentina and putting distribution agreements in place to support its sales representatives. \n \nAllergic rhinitis (\"AR\") is a common chronic condition in Latin America, with a recently reported prevalence rate of 7 % (approx. 40 million people) in a population based study1. However, other studies 2, 3 suggest the prevalence of AR to be higher, suggesting that the condition may currently be under-treated in Latin America. \n \nManuel Llobet, the Company's CEO, commented:\n \n\"Our presence in Latin America is part of Allergy Therapeutics' broader strategy to expand the business globally and enter those markets outside Europe that present significant opportunities to grow the business and help establish the Company as a global player in the allergy market. Spending on medicines in Emerging Markets is expected to double between 2010 and 2015 to around $300 billion according to IMS4, overtaking Germany, France, Italy, Spain and the UK combined and approaching US spending levels. We want to maximize this opportunity for our products and anticipate that Emerging Markets will account for a significant proportion of the Company's revenues in 5 years time.\"\n \n-Ends-\n \nReferences:\n \n1. Neffen, Hugo et al. Nasal alle...