København, 2015-11-12 08:00 CET (GLOBE NEWSWIRE) --

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Performance for the period (unaudited)
(Comparative figures for 2014 are shown in brackets / revenue growth is
measured in local currencies. Revenue from ALK's base business is defined as
total revenue excluding revenues from the SLIT-tablet partnerships in North
America and International markets).

Performance in Q3 was boosted by partner milestone payments:

-- Q3 revenue including partner income grew by 24% to DKK 667 million (522).
-- Q3 revenue in the base business grew by 1% in local currencies to DKK 534
million (515). Adjusted for the phasing out of non-registered SLIT-drop
products in the Netherlands, growth was 3%.
-- Q3 partner revenue from SLIT-tablets was DKK 133 million (7).
-- Q3 EBITDA before special items was DKK 171 million (57). Excluding
milestone payments and sales royalties, EBITDA before special items was DKK
57 million (57).
-- 9M total revenue was DKK 1,882 million (1,821).
-- 9M EBITDA before special items was DKK 329 million (377). Excluding
milestones payments and sales royalties, it was DKK 208 million (197)
reflecting an improved underlying profitability in the base business
despite expanded sales and marketing activities.

Pipeline events

ALK made significant progress with its R&D pipeline:

-- In Q3, ALK’s lead product candidate, the HDM SLIT-tablet, was approved by
the authorities in both Europe and Japan under the brand names ACARIZAX®
and MITICURE™, respectively. Pricing and reimbursement talks have begun and
the first market launches are expected in early 2016.
-- MSD continues to progress in preparation for regulatory submissions in the
USA and Canada for the HDM SLIT-tablet, while a regulatory review is
ongoing in Australia, Switzerland and Turkey.
-- GRAZAX® has been filed for approval in Russia. In Japan, a submission of a
registration application for the SLIT-tablet against Japanese cedar pollen
allergy is currently expected in 2015/16.

2015 financial guidance

The full-year guidance has been updated to include estimated income from ALK's
SLIT-tablet partnerships, including a milestone payment from Torii recognised
in September:

-- Full-year revenue is now expected to be approximately DKK 2.5 billion
(previously: DKK 2.3-2.35 billion excluding the milestone payment from
Torii and other income from the SLIT-tablet partnerships). ALK expects to
grow revenue in the base business by approximately 3% in local currencies
(previously: 3-5%) when excluding a one-off milestone payment received last
year.
-- EBITDA before special items is expected to be approximately DKK 400 million
(previously: DKK 350-400 million including the milestone payment from
Torii, but excluding income from sales royalties and other milestone
payments from the SLIT-tablet partnerships). Exchange rates are not
expected to materially affect EBITDA.
-- Free cash flow is projected at around DKK 0 million (previously: negative
in the range of DKK 50-100 million excluding sales royalties and milestone
payments from the SLIT-tablet partnerships).

Hørsholm, 12 November 2015

ALK-Abelló A/S


Contact: Jens Bager, President and CEO, tel. +45 4574 7576

Today, ALK hosts a conference call for analysts and investors at 2.00 p.m.
(CET) at which Management will review the financial results and the outlook.
The conference call will be audio cast on www.alk-abello.com/investor, where
the presentation will be available shortly before the call begins. Participants
in the audio cast are kindly requested to call in before 1.55 p.m. (CET).
Danish participants should call in on tel. 7022 3500 and international
participants should call in on tel. +44 (0) 20 7572 1187 or +1 646 722 4972.
Please use the following Participant Pin Code: 19234451#.

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