ALK Abello reports growth in fourth quarter

ALK Abello has published its financial breakdown for 2009, during which the company experienced encouraging growth in sales and earnings.

The pharmaceuticals firm reported revenues of 260 million euros (228.9 million pounds), compared to the 240 million euros it accrued in the previous 12-month period.

It attributed this improved performance to a number of key achievements over the course of the year, such as its ten per cent increase in vaccine sales and the European regulatory approval of its new allergy treatment Grazax.

In a statement, president and chief executive officer Jens Bager and chairman Jorgen Worning expressed confidence that the firm will see sustained sales growth in the coming year.

They said: “The company is well-consolidated with good liquidity, insignificant debt, increasingly profitable operations and an expanding free cash flow.”

This comes after the firm announced earlier this month that Grazax has met its primary clinical target in a new trial among paediatric patients.