This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ALK Enters Collaboration To Accelerate Growth In China

Stocks in this article: ALK

COPENHAGEN, Denmark, April 24, 2014 (GLOBE NEWSWIRE) -- ALK (ALK-B.CO / OMX: ALK B / AKABY / AKBLF) and China-based specialty pharmaceutical company Eddingpharm, today announced that they have agreed a collaboration that will expand ALK's presence in China. Under the agreement, Eddingpharm will handle the sales and distribution of ALK's marketed products in China, while ALK will support Eddingpharm with medical and scientific expertise. ALK will maintain a local organisation in China.

The agreement covers ALK's diagnostic skin prick test, Soluprick (r) SQ, for house dust mite allergy, and the subcutaneous immunotherapy (SCIT) product, Alutard SQ (r), also for house dust mite allergy. The collaboration will run for an initial seven years, provided certain performance targets are met.

Jens Bager, President and CEO of ALK said: "ALK's affiliate in China, set up in 2004, has consistently delivered strong year-on-year growth for the company. This collaboration will allow us to accelerate our expansion in China by securing a threefold increase in sales force size, and allowing ALK's products to benefit from Eddingpharm's established position in respiratory medicine."

Eddingpharm founder and CEO Xin Ni said: "Allergic disease is an increasing health concern in China, and its link to conditions such as asthma is becoming more widely recognised. Allergy immunotherapy products are a strong fit for Eddingpharm's existing respiratory franchise and we look forward to a long and successful collaboration with ALK."

Under the terms of the new agreement, Eddingpharm will make an upfront payment to ALK to secure exclusive rights in China to Alutard SQ (r) and Soluprick (r).

Around 200 million people are estimated to suffer from allergies in China, and the number is increasing all the time. House dust mite allergy is the most prevalent allergy, affecting more than 100 million people. Although the allergy immunotherapy market in China is still small, it is growing quickly and ALK sees attractive growth opportunities for the future. In parallel with the Eddingpharm collaboration, ALK intends to initiate a locally-based clinical development programme for its house dust mite SLIT-tablet with the longer term goal of registering and launching the product in the country.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs