ALK

What ALK does

ALK-Abelló A/S (Nasdaq Copenhagen: ALK B) is a Danish specialty pharmaceutical company founded in 1923 and headquartered in Hørsholm, Denmark, operating as the global leader in allergen-specific immunotherapy (AIT). The company develops, manufactures, and commercializes prescription treatments that modify the underlying immunological mechanisms of allergy rather than merely suppressing symptoms. Its core product platforms are sublingual immunotherapy (SLIT) tablets covering the major respiratory allergens (grass pollen, birch, ragweed, Japanese cedar, and house dust mite), subcutaneous immunotherapy (SCIT) injections, and the neffy/EURneffy needle-free nasal adrenaline spray franchise for emergency anaphylaxis treatment in both adult (2mg) and pediatric (1mg, children 4+ weighing 15-30kg) formulations. A peanut allergy SLIT tablet is in Phase 3 development following positive Phase 2 results in April 2026.

The company operates four GMP production facilities in Denmark, France, Spain, and the United States, employs approximately 2,000 people, and serves about 1.5 million patients across 30+ countries. Its commercial model is hybrid: direct specialty pharmaceutical sales teams in Europe and North America target allergists, pulmonologists, and hospitals through prescription pharmacy channels, while regional distribution partnerships with Torii (Japan), Abbott (Russia/SE Asia), Seqirus (Australia/NZ), and Eddingpharm/GenSci (China) provide market access across Asia-Pacific and emerging markets in exchange for licensing/royalty revenue. FY2025 revenue of DKK 6,312M (approximately USD $920M) grew 15% year-over-year at a 26% EBIT margin, with Q1 2026 accelerating to 18% organic revenue growth and 32% EBIT margin. The Lundbeck Foundation controls 67% of voting rights through a dual-class share structure, providing long-term strategic stability alongside ATP (5.1%) and approximately 22% international institutional ownership.

Name

ALK

Legal name

ALK-Abelló A/S

Website

https://alk.it

Company type

Public

Founded year

1923

Operating status

Operating

Headcount range

11–50 employees

Short description

ALK-Abelló is a Danish specialty pharmaceutical company founded in 1923 that develops and commercializes allergen-specific immunotherapy products (SLIT tablets, SCIT injections) and the neffy/EURneffy needle-free nasal adrenaline spray, serving approximately 1.5 million allergy and anaphylaxis patients across more than 30 countries via direct sales and regional distribution partnerships.

Ownership category

akta.pro rank

Product category

Allergy Immunotherapy Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Respiratory & Allergy Pharmaceuticals (HLAIAAAH)

akta.pro secondary industries

Allergy Immunotherapy Biologics (allergen extracts, desensitization) (HLAAAEAI), Allergen Immunotherapy (SCIT/SLIT) Services (HLAKAAAF), Pediatric Allergy & Immunology (HLAKAAAB), Food Allergy Evaluation & Management (HLAKAAAD)

Keywords

• Allergy immunotherapy
• Sublingual immunotherapy tablets
• Allergen-specific immunotherapy
• Allergy diagnostics
• Anaphylaxis treatment

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices18 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Pharmaceutical Product Sales: ALK generates revenue primarily from sales of allergy immunotherapy products including SLIT tablets (Grazax/Grastek for grass pollen, Acarizax/Ragwitek for house dust mite/ragweed), subcutaneous immunotherapy products, and acute anaphylaxis treatments (neffy/EURneffy). Revenue is generated through prescription sales via pharmacies and hospitals across Europe, North America, and Asia.
2. Partnership Licensing: ALK receives upfront payments and milestone payments from regional partners including Torii (Japan), Abbott (Russia/SE Asia), Seqirus (Australia/NZ), and Eddingpharm (China) for commercialization rights to ALK products. The Chinese partnership with GenSci generated an upfront payment contributing to 2025 results.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels4 records

Core offering

ALK manufactures and commercializes allergy immunotherapy (AIT) products, including sublingual immunotherapy (SLIT) tablets for grass pollen, house dust mite, birch, ragweed, and Japanese cedar allergies, as well as subcutaneous AIT injections and the needle-free EURneffy/neffy nasal adrenaline spray for emergency anaphylaxis treatment. The company focuses on disease-modifying therapies that reprogram the immune system to develop tolerance to specific allergens.

Product overview

ALK is a global specialty pharmaceutical company and world leader in allergen-specific immunotherapy (AIT), offering a comprehensive portfolio of allergy treatments and diagnostics. The core product line consists of SLIT (sublingual immunotherapy) tablets for treating the most common respiratory allergies (grass pollen, house dust mite, birch, ragweed, Japanese cedar), which modify the underlying immunological mechanisms of allergy and provide long-term disease modification. The emergency care portfolio includes EURneffy®/neffy® nasal adrenaline sprays for anaphylaxis treatment, available in 1 mg (pediatric) and 2 mg (adult) formulations. ALK also offers subcutaneous immunotherapy (AIT injection treatments) and allergy diagnostic products. A peanut allergy SLIT tablet is in late-stage development (phase 3 expected late 2026). The company operates from Denmark with global production facilities in Denmark, France, Spain, and the USA.

Differentiator

Problem solved

Functional benefit

Products and services

• SLIT tablets (Sublingual Immunotherapy tablets) ALK's flagship sublingual immunotherapy tablets for treating allergic rhinitis and allergic asthma caused by various allergens including grass pollen, house dust mite, birch, ragweed, and Japanese cedar. Administered daily under the tongue, these disease-modifying treatments reprogram the immune system to develop tolerance to specific allergens.
• EURneffy 1 mg Needle-free adrenaline nasal spray approved in the EU for emergency treatment of anaphylaxis in children aged 4 years and older weighing 15-30 kg. First and only needle-free adrenaline treatment authorized for this age group in Europe.
• EURneffy 2 mg Needle-free adrenaline nasal spray approved in the EU for emergency treatment of anaphylaxis in adults and children weighing 30 kg or more. Provides portable alternative to traditional adrenaline auto-injectors.
• AIT (Allergen-Specific Immunotherapy) - Subcutaneous Traditional injection-based immunotherapy treatments for allergy desensitization, administered via subcutaneous injection. Part of ALK's comprehensive immunotherapy portfolio alongside sublingual options.

Quantifiable outcome

• 49% of patients tolerated 300mg peanut protein vs 18% placebo after 24 weeks in phase 2 trial
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• GenScicoreChannel Partner/ Reseller/ Distributor · 1 January 2025GenSci partnership for China generated an upfront payment contributing to ALK's 2025 financial results. GenSci is involved in commercialization of ALK products in the Chinese market alongside Eddingpharm.
• Torii PharmaceuticalcoreChannel Partner/ Reseller/ DistributorTorii commercializes ALK's SLIT tablet immunotherapy products in Japan. Japan represents a key market for ALK due to the prevalence of Japanese cedar pollen allergy. This partnership provides ALK with established distribution infrastructure and market access in the Japanese pharmaceutical market.
• AbbottcoreChannel Partner/ Reseller/ DistributorAbbott distributes ALK's allergy immunotherapy products in Russia and Southeast Asia. The partnership leverages Abbott's established pharmaceutical distribution network across these regions to maximize market penetration for ALK's products.
• SeqiruscoreChannel Partner/ Reseller/ DistributorSeqirus commercializes ALK products in Australia and New Zealand. The partnership covers distribution of SLIT tablet products for allergic rhinitis and asthma treatment in these Pacific markets.
• EddingpharmcoreChannel Partner/ Reseller/ DistributorEddingpharm commercializes ALK's neffy nasal adrenaline spray in China. The product received approval from China's NMPA and is expected to be available in spring 2026 as the first community-use epinephrine product in China.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Sanofi: Global pharmaceutical company with significant allergy and respiratory franchises including consumer health products and prescription treatments. Broader incumbent whose allergy offerings overlap with ALK's portfolio, particularly in OTC and prescription respiratory allergy.
• Allergopharma (Merck KGaA): Division of Merck KGaA focused on allergen-specific immunotherapy and diagnostics. Broader incumbent with SCIT and SLIT offerings that overlap with ALK's portfolio, supported by Merck KGaA's global pharmaceutical infrastructure.
• GlaxoSmithKline (GSK): Global pharmaceutical company with established respiratory and allergy franchises including inhaled therapies and consumer health allergy products. Broader incumbent providing allergy treatments that compete with ALK in adjacent categories.
• Aimmune Therapeutics (Nestlé Health Science): Developer of Palforzia, the first FDA-approved oral immunotherapy for peanut allergy, now part of Nestlé Health Science. Competes with ALK's peanut SLIT tablet in the food allergy treatment category.

Direct peers

• LETI Pharma: Spanish specialty pharmaceutical company focused on allergen immunotherapy and diagnostics. Direct competitor in European SCIT/SLIT market with overlapping product categories.
• Allergy Therapeutics: UK-based specialty vaccine company focused on allergen-specific immunotherapy for allergies including grass pollen and peanut. Competes directly with ALK in the SCIT/SLIT market and is developing its own peanut allergy vaccine candidate.
• Stallergenes Greer: Direct competitor in allergen-specific immunotherapy, offering both SCIT and SLIT products for respiratory allergies. Closely comparable business model and product portfolio to ALK, with overlapping presence in Europe and North America.
• HAL Allergy: Dutch allergen immunotherapy company offering SCIT and SLIT products for respiratory allergies. Direct competitor with similar product categories and focus on European markets.

Emerging players

• ARS Pharmaceuticals: Developer of neffy, a needle-free intranasal epinephrine spray approved for emergency treatment of anaphylaxis. Direct competitor to ALK's EURneffy in the needle-free adrenaline category.
• DBV Technologies: Clinical-stage biopharmaceutical company developing Viaskin epicutaneous immunotherapy for peanut and other food allergies. Competes with ALK's peanut SLIT tablet in food allergy desensitization with differentiated patch delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALK