ALK Announces New Corporate Strategy (Allergy+) and 2028 Financial Ambitions
ALK Unveils New Corporate Strategy “Allergy+” and 2028 Financial Ambitions
ALK, a global specialty pharmaceutical company, made a significant announcement today regarding its new corporate strategy, Allergy+, and its financial ambitions for 2028. The Board of Directors has adopted this new strategy to further solidify ALK’s leadership in allergy immunotherapy and expand its reach into food allergy and anaphylaxis treatment.
The Allergy+ strategy aims to achieve a minimum of 10% average revenue growth in local currencies until 2028, with a focus on the respiratory SLIT-tablet portfolio. This portfolio is key to ALK’s growth as it aims to broaden its patient reach and achieve full pediatric coverage. Additionally, ALK targets an EBIT margin of approximately 25% in 2025, with annual profitability improvements aligned with revenue growth to maintain a projected EBIT margin of around 25% until 2028.
CEO Peter Halling expressed his enthusiasm for the new strategy, stating, “We want to sustain ALK’s growth for many years to come and leverage our insights and business platforms to help more people with allergies to a better life.” The strategy prioritizes high-potential growth opportunities in markets, projects, and innovations that can generate strong returns and have a significant impact on patients and prescribers.
The Allergy+ strategy is built on four pillars: Focus, Innovate, Optimise, and Cultivate. ALK will prioritize commercial activities to strengthen its global position in respiratory allergy, with a focus on expanding its tablet portfolio. In Europe, ALK expects to be the main growth driver, while in North America and China, the company will continue to grow its prescription-based tablet business.
In terms of innovation, ALK plans to expand its R&D pipeline to address food allergy, anaphylaxis, and other adjacent allergic conditions. The company aims to develop new treatments to meet the unmet medical needs of millions of people worldwide affected by allergies.
To optimize operations, ALK will focus on continuous manufacturing improvements and expand production capacity for tablets. The company will also invest in infrastructure, digital solutions, and AI to streamline operations and reduce complexity.
Lastly, ALK is committed to cultivating its people and organization to foster a strong performance culture and conduct business sustainably. The company will invest in employee development, ethical business practices, and reducing its environmental footprint.
The financial outlook for 2024 remains unchanged, with ALK expecting revenue growth of 10-13% in local currencies and an EBIT margin of 17-19%. Investors and stakeholders can learn more about the new strategy at ALK’s Capital Markets Day on June 4, 2024, which will be webcasted live on www.ir.alk.net/CMD.