ALK Abello completes Fornix allergy business acquisition

Pharmaceutical Company Restructures

ALK Abello's proposed takeover of Fornix BioSciences' allergy business activities in the Netherlands has been ratified by the shareholders of Fornix.

During an extraordinary general meeting arranged by the bioscience company, ALK's proposal to acquire the Dutch activities of the allergy firm Artu for 19.6 million euros (16.1 million pounds) was given a final approval.

The takeover was announced on April 26th 2010 and is intended to allow ALK to expand its global business interests, as well as helping to consolidate the wider allergy vaccines industry.

As a consequence of the decision of the Fornix shareholders, all necessary approvals of the takeover have now been granted, allowing Artu and ALK's Dutch subsidiary's activities to be integrated fully.

ALK expects the takeover to have a positive effect on its annual earnings figures for 2010.

Last month, ALK Abello published new data from a clinical trial of its grass allergy treatment Grazax, demonstrating its effectiveness two years after therapy completion.

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