ALK-Abelló

Regulatory Filings • Jan 28, 2011

Summary: ALK will receive an upfront payment of EUR 30 million (DKK 225
million) and up to EUR 30 million (approximately DKK 225 million) in product
development and market registration milestone payments. ALK will also receive
royalty payments and sales milestones on future sales in Japan

Copenhagen, 2011-01-28 07:01 CET (GLOBE NEWSWIRE) -- Today, ALK and Torii
Pharmaceutical Co., Ltd. ('Torii') (TSE: 4551) announce that they have entered
into an exclusive license agreement to develop and commercialise ALK's house
dust mite allergy immunotherapy products for asthma and allergic rhinitis in
Japan, which is the world's second largest market for allergy medicine after
the USA. The agreement gives Torii exclusive license rights for the
development, marketing and distribution of ALK's tablet based immunotherapy
product against house dust mite allergy - MITIZAX®. The agreement also covers
an injection based immunotherapy product, Alutard®, and diagnostic products
against house dust mite allergy. Moreover, the agreement includes a research
and development collaboration targeting a tablet based immunotherapy product
against Japanese cedar pollen allergy.

Under the agreement, ALK will receive an upfront payment of EUR 30 million
(approximately DKK 225 million) and up to EUR 30 million (approximately DKK 225
million) in development and market registration milestone payments. ALK will
also receive royalty payments and sales milestones on the net sales of the
products. Torii will be incurring all the costs of clinical development,
registration, marketing and sale of the products, while ALK will be responsible
for production and supply of the products.

In Japan, approximately 20-30% of the population of 127 million people suffer
from house dust mite allergy or Japanese cedar pollen allergy. House dust mite
allergy is considered to be a major cause of asthma. Since many of the
patients' symptoms are not well-controlled with current therapy, there is a
significant unmet medical need for better allergy treatment.

Jens Bager, President and CEO of ALK, states: “The agreement with Torii is a
quantum leap in our efforts to launch modern, effective allergy immunotherapy
products globally. We consider Torii to be the best partner for ALK on the
Japanese market, and we expect our collaboration to accelerate the introduction
of MITIZAX® and other products onto one of the most important medical markets.”

Norihiko Matsuo, President of Torii, states: “For over 40 years, Torii has been
marketing more than a hundred products for allergy diagnosis and treatment.
Furthermore, Torii is currently conducting a Phase III clinical study of a
liquid, sublingual immunotherapy product for Japanese cedar pollen allergy. We
share with ALK the enthusiasm for treating the allergy by modifying the immune
response. We are therefore delighted with this opportunity to increase our
contribution to the treatment of allergic diseases to include house dust mite
allergy.”

The strategic cooperation with Torii forms part of ALK's strategy to increase
its geographical presence through partnerships, acquisitions and the
introduction of new innovative products.

The agreement will have a positive effect on ALK's financial accounts. In
accordance with International Financial Reporting Standards the upfront payment
is expected to be recognised as income over a period of one to three years in
line with the progress of the development activities. The majority of the
upfront payment will be recognised in 2011.

                             ALK-Abelló A/S


                               Jens Bager
                            President and CEO

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

About Torii Pharmaceutical Co., Ltd.
Torii Pharmaceutical Co., Ltd., established in 1921, manufactures and
distributes ethical pharmaceutical products. Torii is a quoted company with its
headquarters in Tokyo (TSE:4551), and has about 500 medical representatives
working at 14 branch offices throughout Japan. Torii markets drugs in a number
of priority therapeutic areas: renal diseases and hemodialysis including
pruritus in hemodialysis patients, acute diseases including acute pancreatitis,
HIV, skin diseases including atopic dermatitis, lifestyle-related diseases
including gout, and allergy. Torii has been the only company in Japan that
manufactures and sells allergen agents for more than 40 years.Torii's principal
shareholder is Japan Tobacco Inc. Read more at www.torii.co.jp.

About ALK
ALK, established in 1923, is a research-driven global pharmaceutical company
focusing on allergy treatment, prevention and diagnosis. ALK is the world
leader in allergy vaccination (immunotherapy). The company has 1,700 employees
with subsidiaries, production facilities and distributors worldwide. ALK is
also part of a strategic partnership with Merck on tablet based allergy
vaccination in North America. The company is headquartered in Hørsholm,
Denmark, and is listed on NASDAQ OMX Copenhagen. Read more at
www.alk-abello.com.

About MITIZAX®, House Dust Mite Allergy Immunotherapy Tablet
Allergy immunotherapy is a unique treatment of the underlying cause of the
allergy. The treatment induces a protective immune response which provides
sustained symptom relief and reduces the risk of developing asthma.

House dust mite allergy is the most common indoor allergy in the world,
affecting approximately 90 million people in Europe, North America and Japan.
House dust mite allergy is also a major cause of allergic asthma.

ALK is currently developing a house dust mite allergy immunotherapy tablet
(AIT). The clinical trial programme is in Phase III and has already
demonstrated promising results: A recent clinical trial met its primary
endpoint and showed a significant reduction in the need for asthma medication.
Moreover the study demonstrated that the tablet is convenient, well tolerated
and has a good safety profile.

The new tablet, MITIZAX®, is part of ALK's tablet programme which led to the
launch of the world's first AIT, GRAZAX®, for the treatment of grass pollen
allergy in 2007. The AIT programme also includes tablets against ragweed and
tree pollen allergy.

For further information please contact:
Investor Relations: Flemming Pedersen, tel. +45 4574 7511, mobile +45 21 48 01
18
Press: Martin Barlebo, tel. +45 4574 7901, mobile +45 2064 1143