Stallergenes' Q1 Revenue Stable (-0.4%) with Very Strong Growth of Oralair (+58%) and Continuous Expansion in International Markets (+39%)

Regulatory News:

€ millions		2012				2013				13/12
		€ m		%Sales		€ m		%Sales		Var.%
Southern Europe (1)		56.1		74		54.6		73		(2.7)
Other Europe (2)		16.2		22		16.2		22		(0.3)
Non-European markets		2.6		4		3.7		5		39.1
Sublingual route		68.0		91		67.4		90		(0.9)
Subcutaneous route and other products		6.9		9		7.1		10		2.9
Total Q1 sales		74.9		100		74.5		100		(0.4)
(1) Portugal, Spain, France, Italy; (2) Including Greece

Consolidated sales for the 1st quarter of 2013 amounted to 74.5 million, stable compared to the 1st quarter of 2012.

Oralair and non-European markets achieved a significant growth

In the sublingual segment, the 5-grass pollen immunotherapy tablet, Oralair, confirmed its continuing growth with a sales increase of 58% in the first quarter of the year compared to the same period last year, thanks to substantial sales growth in the Czech Republic, Switzerland and Belgium. In addition, the product has registered a successful start in France since its launch at the end of 2012.

The economic turmoil in Italy and Spain explains the 2.7% decline in sales in Southern Europe. The "Other Europe" remained stable in Q1 2013. Sales growth in Switzerland, UK and Poland has offset the impact of the withdrawal of Staloral 300 House Dust Mites in Germany (down €1.1 million). Excluding this impact, sales in this region increased 7.3%.

Non-European markets maintained their impressive growth (+39%), with a double digit sales increase in several key countries, including Turkey, Russia and Australia. These markets now account for nearly 5% of the Group's revenues.

The US, a future growth driver

In the US, Stallergenes (Paris:GENP) announced on 18 February 2013 that the FDA had agreed to review its BLA for Oralair, making Stallergenes the first pharmaceutical company to file and obtain FDA acceptance to review a BLA for an AIT sublingual tablet in this market.

With the objective of achieving a strong and rapid impact in the US market, Stallergenes is currently evaluating the optimal route to market, and notably assessing cooperation opportunities for the distribution of Oralair with companies active in the US allergy field. Among the potential partners, Greer Laboratories Inc., the leader in allergen immunotherapy in the US, and Antigen Laboratories Inc., a producer of allergen extracts working closely with the ENT (Ear, Nose and Throat) specialist community in the US, have recently been the object of a definitive acquisition agreement by Ares Life Sciences, Stallergenes reference shareholder.

ABOUT STALLERGENES

Stallergenes is an international biopharmaceutical company dedicated to the treatment of allergy-related respiratory diseases, such as severe rhinoconjunctivitis and rhinitis, as well as allergic asthma, using allergen immunotherapy. The leader in sublingual immunotherapy treatments, Stallergenes devotes around 20% of its annual gross sales to Research Development and is actively involved in the development of a new therapeutic class: sublingual immunotherapy tablets.
In 2012, the Company generated sales of € 240 million, and more than 500,000 patients were treated with Stallergenes products.

Euronext Paris (Compartment B)

CAC small

ISIN: FR0000065674

Reuters: GEN.PA

Bloomberg: GEN.FP

Additional financial information is available at http://finance.stallergenes.com

Forward-looking statements related to Stallergenes
This press release may contain forward-looking statements, including forecasts of future revenue and operating profit as well as expected business-related events. Such statements are based upon the current beliefs and expectations of Stallergenes' management and are subject to risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements, due to various factors. Without being exhaustive, such factors include economic situations and business conditions, including legal and product evaluation issues, fluctuations in currencies and demand, changes in competitive factors and reliance on suppliers. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law.

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