ALK-Abelló

Earnings Release • Aug 16, 2012

Copenhagen, 2012-08-16 08:00 CEST (GLOBE NEWSWIRE) --

Performance for the period (unaudited)
(Comparative figures for the same period of last year are shown in brackets /
sales growth is measured in local currencies)

Revenue and operating result in Q2 were as expected and in line with the full
year outlook. It should be noted that revenue and earnings in H1 2011 were
particularly affected by an extraordinarily high level of income of DKK 184
million from partners (DKK 60 million in H1 2012) and revenue from an
inlicensed adrenaline pen which is currently being replaced by sales of ALK’s
own brand Jext®.

-- Revenue in H1 ended at DKK 1,122 million (1,258).
-- Vaccine sales grew by 3%. AIT sales grew by 19%.
-- Growth was especially driven by positive developments in SLIT and AIT sales
in France and by SCIT and AIT sales in Central and Northern Europe,
respectively.
-- Operating profit (EBITDA) was DKK 79 million (285).
-- At the end of the warranty period, ALK has reversed a provision and
adjusted a debt obligation of DKK 155 million in total which were part of
the representations and warranties given to the buyer of the ingredients
business, Chr. Hansen A/S, in 2005. The gain is presented separately in the
income statement as net profit, past discontinued operations.
-- Net profit was DKK 168 million (140).
-- Free cash flow was an outflow of DKK 166 million (an inflow of 241), and
cash and cash equivalents stood at DKK 492 million.

ALK's business activities have continued to progress:

-- ALK’s Japanese partner, Torii, has advanced the clinical development
programme for MITIZAX® and initiated two parallel Phase II/III trials in
Japan in July, which released a milestone payment to ALK.
-- ALK’s North American partner, Merck (known as MSD outside the USA and
Canada), has disclosed that the company will initiate a Phase IIb clinical
trial for HDM AIT (known as MITIZAX® in Europe).
-- Additionally, Merck has informed ALK of the results from a recently
completed safety trial with ragweed AIT. The results confirm Merck's plans
for filing of a New Drug Application with the U.S. Food and Drug
Administration in 2013.

Unchanged outlook for 2012
For the 2012 financial year, ALK expects growth in vaccines sales of 3-5%,
total revenue of up to DKK 2.4 billion and a record-high activity level within
R&D. ALK still expects operating profit before depreciation and amortisation
(EBITDA) to exceed DKK 300 million. Compared to H1, the last six months of 2012
is expected to show continued growth in vaccine sales, which will be supported
by a new SLIT product, and higher adrenaline sales as well as higher partner
revenues. H2 is likely to show capacity costs on level with H1.

                        Hørsholm, 16 August 2012


                             ALK-Abelló A/S

Contact:
Jens Bager, President and CEO, tel. +45 4574 7576
Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525
Press: Martin Barlebo, tel. + 45 4574 7901, mobile + 45 2064 1143

ALK is holding a conference call for analysts and investors today at 2.00 p.m.
(CET) at which Jens Bager, President and CEO, and Flemming Pedersen, CFO, will
review the results. Participants in the conference call are kindly requested to
call in before 1.55 p.m. (CET). Danish participants should call in on tel. +45
7014 0453 and international participants should call in on tel. +44 20 7750
9950. The conference call will also be webcast on our website,
www.alk-abello.com/investor, where the related presentation will be available
shortly before the conference call begins.