Alliance Pharma plc
APH
Delayed London Stock Exchange - 09/26 05:35:00 pm
53.75GBp
+0.47%

Alliance Pharma : sales rise as key products inject healthy growth

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09/14/2017 | 07:20 am

SPECIALTY drugmaker Alliance Pharma's sales jumped in the first half of the year as its two key drugs boosted revenues.

The pharmaceutical firm's revenue rose 8.4 per cent compared with the previous year to £50.3m as sales of its top-selling scar-removal product Kelo-cote rose 52 per cent to £6.2m and sales of MacuShield, its nutritional supplement to treat age-related vision loss, jumped 67 per cent to £3.4m.

For the six months to the end of June, underlying profit before tax rose 1.7 per cent to £11.9m.

Alliance bought rival Sinclair Pharma's healthcare assets for £128m in December 2015, and the firm has now completed the integration of the 27 products it acquired, which effectively doubled the size of the group.

The firm also benefited from the weakness of the pound compared to other currencies in the first six months of the year.

Alliance said its revenues were boosted by £2.6m due to exchange rate movements.

Alliance's international growth brands, Kelo-cote and MacuShield, showed promising results in the first half, and the firm aims to continue driving organic growth of the two brands through targeted marketing investment.

Its two-pronged growth strategy also includes seeking additional growth from bolt-on acquisitions.

Chairman Andrew Smith said the business was now strategically positioned for growth and ready to pursue acquisitions.

(c) 2017 City A.M., source Newspaper

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