Strong demand for allergy soothers Pollinex and Pollinex Quattro has sent full-year revenue up 15 per cent at constant currencies to £64m at Allergy Therapeutics (AGY). A trading update for the year to June sparked a 17 per cent share price climb after management at the specialist biotech group revealed that sales will come in ahead of previous expectations.
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Despite a flat market in Europe, Allergy has gained strong momentum in the last year by winning business from its competitors. Broker Panmure Gordon is yet to forecast profits at the group, although net losses are expected to be lower than previously anticipated after the development costs of some crucial clinical trials rolled over into the 2018 financial year.
