- Allergy Therapeutics said it expected to generate earnings ahead of market expectations amid lower-than-anticipated overheads through cost control and lower R&D costs. The company also said it had received a a $7.6m settlement from Inflamax.

Net sales this year were likely to be in line with market expectations showing good growth over the past year on a constant currency basis across most of Europe but especially in Spain, Netherlands and Switzerland, the company said.

In terms of products, Venomil, Pollinex and Pollinex Quattro had all performed well and Acarovac Plus continues to be a top performing product in Spain.

Allergy Therapeutics continued to perform 'strongly' this year, combining good sales performance with strong cost control, resulting in earnings ahead of market expectations for the full year, Allergy said,

'With the announcement today of a successful litigation result in relation to the Grass MATA MPL Phase II trial in challenge chambers, our cash position has been further boosted. We look forward to giving more detail on the Group's performance at our full year results in September, it added.

At 8:48am: [LON:AGY] Allergy Therapeutics PLC share price was +1.75p at 15p

Story provided by