2021 Company Report


Chairman’s message
Stefan Meister Chairman of the Board of Directors

Looking back on 2021, we can be proud of the way Stallergenes Greer navigated successfully through times of disruption and change, still marked by the global pandemic, while continuing to serve patients and healthcare professionals with excellence. The Group remained steadfast in its ambition to become the world’s leading allergen immunotherapy company by executing its strategy with discipline and determination.

For a second consecutive year, Stallergenes Greer posted...


Interview with our CEO
Michele Antonelli Chief Executive Officer

What did Stallergenes Greer accomplish in 2021 and how is the Group delivering on its strategy?

In a context still marked by the pandemic and despite increased competition, Stallergenes Greer posted record performance, with double digit growth in many countries. We consolidated our leadership positions in the U.S., France, Italy, Spain, the Czech Republic, Australia and Russia, while continuing to grow market share in a number of other geographies. This success also reflects Stallergenes Greer’s ability...


chairman’s message
Stefan Meister Chairman of the Board of Directors

Looking back on 2021, we can be proud of the way Stallergenes Greer navigated successfully through times of disruption and change, still marked by the global pandemic, while continuing to serve patients and healthcare professionals with excellence. The Group remained steadfast in its ambition to become the world’s leading allergen immunotherapy company by executing its strategy with discipline and determination.

For a second consecutive year, Stallergenes Greer posted record performance, delivering beyond objectives. The Group’s significant achievements include: substantial market share gains, a strengthened presence in the European market with the launch of our allergen immunotherapy tablet and new allergen references, as well as dynamic sales in the U.S. veterinary allergy market.

This performance is essential in maintaining Stallergenes Greer’s financial strength and in continuing to transform the Group for the future. Throughout the year, we continued to invest in our manufacturing capabilities while bolstering R&D efforts, both internally and externally via a series of long-term collaborations with academic and private partners who are at the cutting edge of scientific innovation.

With robust results, smart capital allocation and the support of B-FLEXION (formerly Waypoint Capital), its sole shareholder, Stallergenes Greer is delivering in the short-term while building for the long-term. The Group is exploring new growth horizons; notably: novel drug delivery technologies; expansion into the food allergy market; highly targeted acquisition opportunities; and, growing its geographic footprint.

On behalf of the Board of Directors, I would like to take this opportunity to recognise the contribution of Stallergenes Greer’s employees to the Group’s success and thank them for their unwavering commitment to delivering on our promise to patients and the medical community.

We can look to the future with confidence. In the future, Stallergenes Greer will continue to capitalise on its century of experience in allergen immunotherapy while accelerating innovation and growth for the benefit of all its stakeholders.

Sincerely

 

interview with our CEO
Michele Antonelli Chief Executive Officer

What did Stallergenes Greer accomplish in 2021 and how is the Group delivering on its strategy?

In a context still marked by the pandemic and despite increased competition, Stallergenes Greer posted record performance, with double digit growth in many countries. We consolidated our leadership positions in the U.S., France, Italy, Spain, the Czech Republic, Australia and Russia, while continuing to grow market share in a number of other geographies. This success also reflects Stallergenes Greer’s ability to maintain product delivery thanks to a state-of-the-art supply chain with a zero back order target.

The launch of Orylmyte®, our house dust mite sublingual allergen immunotherapy tablet, in Germany, Belgium and Luxembourg was also a significant success, with results above our expectations. The performance of Orlymyte® in the German market – a country in which patients and the medical community are rapidly adopting SLIT treatment solutions – is an important indicator of the appreciation our tablet should also receive when launched in other European countries during 2022 and 2023.

From an operational standpoint, we achieved significant efficiencies which allow us to re-allocate additional resources to industrial upgrades, innovation in novel delivery technologies and life-cycle management, as well other strategic initiatives.

These solid performances reflect the value proposition of Stallergenes Greer: a high-quality product portfolio, a commitment towards our stakeholders and the engagement of our employees towards improving quality of life for people with allergies, by leveraging the potential of precision medicine.

What role has Stallergenes Greer’s cultural transformation played in this success?

Stallergenes Greer has definitively shifted into a culture of performance. The strategy is translated into long- and short-term objectives and hence into projects. Our project management organisation is developing new project leaders and each initiative is constantly monitored to achieve effective progress. Our ways of working ensure agility and the proper use of resources.

This performance-oriented organisation has not only improved the recognition of how employees contribute to the success of the Group but has also given rise to an energetic and positive mindset shared at all levels of Stallergenes Greer.

Our mission is to better serve our patients and the medical community. And, by focusing our efforts on what is essential for Stallergenes Greer, by being clear about our objectives, by learning to swiftly adapt to change, we are accomplishing our mission with pride, confidence and renewed vigour.

What do you believe are the most important drivers for growth going forward?

Stallergenes Greer’s primary growth drivers will stem from innovation through the expansion of our allergen immunotherapy offering in the field of food allergies, and through investments in the development of new biotechnologies for novel drug delivery. For example, we are currently investigating and evaluating modern vectorbased delivery technologies, such as messenger RNA.

The success of our SLIT technologies will also play an important role as we continue to develop our Orylmyte®/ Actair® and Oralair® tablets, alongside our existing sublingual drop treatment, Staloral®. The amplification of our presence in larger markets, such as China, will also have a positive impact on Stallergenes Greer’s growth.

How is precision medicine shaping the future of allergy care?

Precision medicine is fundamental to the future of allergy care.

The development of targeted approaches to patient profiles or the characterisation of specific epitopes, will not only improve disease outcomes for patients but also contribute to a better understanding of both the mechanism of disease and the immunological system response.

Discoveries in precision medicine will inspire the scientific community to consider allergy as a field in which additional knowledge can be generated; knowledge which, in turn, should rapidly deliver new solutions for people with allergic diseases. With the increasing prevalence of allergic diseases and the significant impact of environmental pollution on human health, discoveries based on precision medicine will play a fundamental role in the future of our industry. Stallergenes Greer has historic experience in clinical trials in the AIT space and initiated the development of real world evidence in the field of allergy. Very large population data provide new evidence of the efficacy of our treatments in real life, notably a significant reduction of incumbent disease. Our medical teams continue to successfully build on real world evidence to further allergen immunotherapy.

How does Stallergenes Greer create a sustainable future for its stakeholders?

In a world affected by climate-change, environmental pollution and urbanisation, more and more people are affected by allergies and, globally, among school children sensitisation rates to one or more common allergens, including food, are currently approaching 40%-50%1. The molecular structure of certain allergens can adapt to environmental change and their allergenic potential is increasing. We all have a part to play in the fight against climate change to contribute to building a sustainable future for all.

Stallergenes Greer promotes environmentally conscious behaviours throughout the Group, thus ensuring a safe work environment for our employees and partners. As part of the Group’s corporate responsibility strategy, we are currently reassessing our environmental impact.

Since its delisting in 2019, Stallergenes Greer’s management focused on operational excellence. Our objectives have been reached and with the sustained support of our shareholder, we are now in a position to broaden our outlook to the 2030 horizon, in particular with regard to the development of a robust pipeline based on novel technologies and precision medicine, the expansion of our geographic footprint and a presence in the field of food allergies.

I am confident in our future, in our people and in our ability to break new ground in the treatment of allergic diseases thanks to our expertise in biotechnology, our commitment to innovation, our engagement towards patients and the medical community and our pioneering spirit.

 

1. World Health Organization. White Book on Allergy 2011-2012 Executive Summary. By Prof. Ruby Pawankar, MD, PhD, Prof. Giorgio Walter Canonica, MD, Prof. Stephen T. Holgate, BSc, MD, DSc, FMed Sci and Prof. Richard F. Lockey, MD

 

Highlights