COPENHAGEN, Denmark, Jan. 2, 2014 (GLOBE NEWSWIRE) -- ALK (ALKB:DC / OMX: ALK B / AKABY / AKBLF): The new German government has decided to partially revoke the AMNOG pricing act introduced in 2010. Amongst other things, the pricing act entailed a mandatory 16% sales rebate for all prescription drugs and a moratorium fixing prices at 2009 levels. According to the new legislation, the rebate will be reduced to 7% with effect from 1 January 2014.
Seen in isolation, the new German price system is expected to improve ALK's 2014 revenue and earnings by DKK 50-52 million based on 2013 sales. Most of ALK's European markets have during the past years introduced various austerities that ALK expects will continue to affect the markets negatively.
ALK will detail its 2014 guidance in the annual report for 2013 due for release on 5 February 2014.
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ALK is a research-driven global pharmaceutical company focusing on allergy prevention, diagnosis and treatment. ALK is the world leader in allergy immunotherapy – a unique treatment of the underlying cause of allergy. The company has approximately 1,800 employees with subsidiaries, production facilities and distributors worldwide. ALK has entered into partnership agreements with Merck and Torii to commercialise allergy immunotherapy tablets in North America and Japan, respectively. The company is headquartered in Hørsholm, Denmark, and listed on NASDAQ OMX Copenhagen. Find more information at www.alk.net.