Speciality pharmaceutical company Alliance Pharma PLC said on Tuesday two significant shareholders sold shares in the company.
Royal Bank of Canada sold its entire shareholding in Alliance Pharma, comprising 7.5 million shares, at an undisclosed price on July 20.
Nigel Wray sold 8.3 million shares at an undisclosed price on July 18, and now holds a 1.34% stake in the company following the transaction. On July 12, he had a 3.18% interest in the group.
July 18 was the date Alliance Pharma said it performed well in the first half of 2017, with 8% growth in sales, in line with the board`s expectations. The pharmaceutical company said sales in the six months to the end of June rose to GBP50.3 million from GBP46.4 million the year before.
The international growth brands delivered a "solid" performance in the half, Alliance Pharma said, with sales of scar reduction product Kelo-Cote growing to GBP6.2 million from GBP4.1 million. Age-related macular degeneration product MacuShield also performed strongly, with sales up to GBP3.4 million from GBP2.0 million.
The other brands performed in line with expectations.
Alliance Pharma said the depreciation of sterling against the euro and US dollar benefited sales by around GBP2.6 million, but noted that the impact on operating profit will be "much smaller" due to increases in the cost of goods and operating costs denominated in euros and dollars.
Alliance Pharma will announce its first-half results on September 13.
Shares in Alliance Pharma closed up 2.1% at 56.66 pence on Tuesday.
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