The present invention pertains to a method for treatment of allergic diseases by administering a natriuretic hormone peptide (NHP), or a nucleic acid sequence encoding NHP, to a patient in need thereof. In another aspect, the present invention concerns an expression vector comprising a nucleic acid sequence encoding NHP. In another aspect, the present invention concerns a host cell genetically modified with a nucleic acid sequence encoding NHP. In another aspect, the present invention concerns a pharmaceutical composition comprising NHP or a nucleic acid sequence encoding NHP and a pharmaceutically acceptable carrier. In another aspect, the present invention pertains to novel fragments of atrial natriuretic peptide (ANP) exhibiting bronchodilatory and anti-inflammatory activity, and isolated nucleic acid sequences encoding the fragments.