Stallergenes Greer plc Stallergenes Greer Comments on Share Price Movement
January 26 2018 - 1:00AM
UK Regulatory
TIDM0RB9
Stallergenes Greer (Paris:STAGR), a biopharmaceutical company
specializing in treatments for respiratory allergies, today noted a
drop of its share price that may be related to the publication of
an injunction received from the French National Agency for
Medicines and Health Products Safety (ANSM) following the
inspection of one production area at the company's facility in
Antony, France.
The company clarifies that the injunction published by the ANSM
on January 9, 2018 does not impact supply and does not require a
product recall. Stallergenes Greer will continue to supply the
market with allergy immunotherapy treatments while it addresses the
ANSM observations identified in the injunction.
The company also confirms that most of the observations noted by
the agency either have been addressed or are in the process of
being resolved as part of the ongoing upgrade of the manufacturing
operations at the Antony facility. The current manufacturing
upgrades and investments began two years ago in order to ensure
that Stallergenes Greer meets the required quality standards.
"We are fully cooperating with the ANSM and we have already
taken corrective actions voluntarily to upgrade our manufacturing
operations. We are now focused on completing the remaining items
identified by the agency within the agreed-upon timeline, " said
Fereydoun Firouz, Chairman and Chief Executive Officer.
The injunction was issued following an ANSM inspection of one of
the facility's production areas. The observations relate to the
quality management system and processes, such as the procedures to
investigate and close manufacturing deviations from agreed
manufacturing specifications, primarily for the production of
subcutaneous immunotherapy (SCIT) products.
The company does not expect the ANSM injunction to have a
material impact on its business and will provide an update on the
progress of its manufacturing upgrade during its next earning call
on March 22, 2018.
ABOUT STALLERGENES GREER PLC
Headquartered in London (UK), Stallergenes Greer plc is a global
healthcare company specializing in the diagnosis and treatment of
allergies through the development and commercialization of allergy
immunotherapy products and services. Stallergenes Greer plc is the
parent company of GREER Laboratories, Inc. (whose registered office
is in the US) and Stallergenes SAS (whose registered office is in
France).
TRADING INFORMATION Name: Stallergenes Greer ISIN: GB00BZ21RF93
1 - Ticker: STAGR ICB Classification: 4577 LEI:
213800CYVZA7GJQEME86 Market: Euronext Paris regulated market
Additional information is available at
http://www.stallergenesgreer.com .
This document (including information incorporated by reference
in this document), oral statements made and other information
published by the Company contain statements that are or may be
forward-looking with respect to the financial condition and/or
results of operations and businesses of the Company. These
statements can be identified by the use of forward-looking
terminology such as "believe," "expects," "project," "estimated,"
"forecast," "should," "plan," "may" or the negative of any of
these, or other variations thereof, or comparable terminology
indicating expectations or beliefs concerning future events. These
forward-looking statements include risk and uncertainty because
they relate to events and depend on circumstances that will occur
in the future. Without being exhaustive, such factors include
economic situations and business conditions, including legal and
product evaluation issues, fluctuations in currencies and demand,
and changes in competitive factors. These and other factors are
more fully described in the Company's 2016 annual report published
on 28 April 2017 on the Company's websitewww.stallergenesgreer.com.
Actual results may differ from those set forth in the
forward-looking statements, due to various factors. Save as
required by applicable law, neither the Company nor any other
person assumes any obligation to update these forward-looking
statements or to notify any person of any such update.
Communications and Investor Relations Stallergenes Greer plc
Natacha Gassenbach, +1-617-225-8013
natacha.gassenbach@stallergenesgreer.com or Investor Relations
Agency FTI Consulting Arnaud de Cheffontaines, +33 1 47 03 68 10
stalleregenesgreer@fticonsulting.com or Media Relations Agency
Havas - Paris (Europe) Samuel Rousseau, +33 (0) 6 51 03 51 43
samuel.rousseau@havas.com
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(END) Dow Jones Newswires
January 26, 2018 02:00 ET (07:00 GMT)
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