By Estel Grace Masangkay
Allergies specialist global healthcare company Stallergenes announced that it has completed an acquisition of the entire share capital of Argentinean allergen immunotherapy (AIT) firm, Alergo Pharma. No financial terms of the agreement were disclosed by either company.
The acquisition will unite the two complementary companies focused on allergen immunotherapies to strengthen offerings of diagnosis and treatment solutions to patients affected by allergic respiratory diseases.
Stallergenes said the transaction will expand its reach in its Latin America territory, where the Argentinean market for allergen immunotherapy makes up a significant portion. The prevalence of allergic rhinitis in the country is approximated at 20 percent to 30 percent of the population. More than 8 million Argentineans are sensitized to allergens, the most common of which is house dust mites. Every year, 2.3 million are diagnosed with allergy symptoms. At present, the company reports that only 150,000 of these receive allergy immunotherapy.
Christian Chavy, CEO of Stallergenes, remarked, “…Alergo Pharma is the leader in the AIT market in Argentina. This acquisition will significantly enhance Stallergenes' footprint in Latin America, and is consistent with our long-term strategy and commitment to fast-growing markets.”
The company recently received approval from the U.S. Food and Drug Administration (FDA) for its sublingual allergen extract Oralair. The drug was approved for the treatment of hay fever (allergic rhinitis) with or without conjunctivitis brought on by specific grass pollen. The company signed an agreement with Greer in October 2013 for the commercialization of Oralair in the U.S. Stallergenes is also developing a birch pollen sublingual immunotherapy solution for the treatment of adult patients with allergic rhino conjunctivitis.
Earlier this month, Stallergenes welcomed Fleur Pellerin, the French Secretary of State for Foreign Trade, to its main site in Antony, Hauts-de-Seine, France. The State Secretary announced the “Export + Health & Cosmetics” initiative which aims to help speed the growth of small and medium enterprises in the medical devices, pharmaceutical, and cosmetic sectors. The program will help SMEs expand their registration processes in Brazil, U.S., India, China, and Russia.