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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Thursday, July 10, 2008
Stallergenes: Q2 2008 Sales up 18% Revision Upwards of 2008 Sales Growth
Comtex
ANTONY, France, July 10, 2008 /PRNewswire-FirstCall via COMTEX/ ----- 1st Half-Year Sales Up 16%
- Revision Upwards of 2008 Sales Growth Guidance: (greater than or equal to)12% EUR millions 2006 2007 07/06 2008 08/07 EURM %Sales EURM %Sales % EURM %Sales % change change Southern Europe (1) 20.5 72 23.2 72 13 26.8 71 15 Other EU countries (2) 6.9 24 7.7 24 11 9.3 24 20 Other markets 1.2 4 1.3 4 15 2.0 5 47 SLIT 21.8 76 25.1 77 15 30.4 80 21 SCIT 5.4 19 5.6 18 5 6.1 16 7 Other products 1.5 5 1.5 5 (0) 1.6 4 4 Total Q2 sales 28.6 100 32.2 100 13 38.0 100 18 Southern Europe (1) 48.1 75 56.5 76 18 64.7 75 14 Other EU countries (2) 13.7 21 15.8 21 15 18.6 21 18 Other markets 2.4 4 2.5 3 5 3.7 4 46 SLIT 49.4 77 59.7 80 21 71.3 82 19 SCIT 11.6 18 11.8 16 2 12.3 14 4 Other products 3.2 5 3.2 4 3 3.4 4 6 Total H1 sales 64.2 100 74.8 100 17 87.0 100 16 (1) Portugal, Spain, France, Italy, Greece; (2) Switzerland included
2008 second quarter sales recorded strong growth in all markets (+18% vs +13% in 2007). Eastern European markets and other markets outside Europe made a significant contribution to this growth. The most buoyant segment of the market remained desensitisation via the sublingual route (SLIT, +21%, vs +15% in 2007) whose reputation was enhanced by the launch of allergen tablets.
Cumulated sales for the first half-year increased by 16% compared to the first half 2007, when growth was already particularly strong (+ 17%). This good performance has enabled the Group to revise its sales growth guidance upwards to growth of at least 12% in 2008 (vs (greater than or equal to)10% previously), boosted by the growing success of the sublingual route, in which Stallergenes continues to strengthen its leadership.
The commercial launch of ORALAIR(R) Grasses for adults will take place in Germany in the next few weeks, following the grant, on 24 June 2008, of the marketing authorisation. The request for a paediatric extension of ORALAIR(R) Grasses has been filed with the Paul Ehrlich Institute. The application for clinical studies for ORALAIR(R) Grasses in the US will be filed in July.
The 2008 first half-year financial results will benefit from a strong level of activity and will show a marked improvement compared to 2007. These results will be released on 27 August 2008.
About Stallergenes
Stallergenes is a European biopharmaceutical company dedicated to desensitisation therapies for the prevention and treatment of allergy-related respiratory diseases, e.g. rhino-conjunctivitis and allergic asthma. A pioneer and leader in sublingual desensitisation treatment, Stallergenes devotes 16% of its turnover to Research and Development and is actively involved in the development of a new therapeutic class: sublingual desensitisation tablets.
In 2007, Stallergenes had a turnover of 147 million euros and provided desensitisation treatments to more than 500,000 patients.
Stallergenes is listed in Euronext Paris (Compartment B) and is part of the sample composing the SBF 120 index. ISIN Code: FR0000065674 Reuters Code: GEN.PA Bloomberg Code: GEN.FP Additional information is available on http://www.stallergenes.com
SOURCE Stallergenes
Copyright (C) 2008 PR Newswire. All rights reserved
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