Updates

Alliance Pharma

August 2011

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Alliance Pharma's preclose statement ahead of results on 7 September reported that for the six months to 30 June sales were Â£24.4m, up Â£1m on H1 '10. Thatâ€™s in line with last month's news that Deltacortril, the anti inflammatory treatment for rheumatoid arthritis and asthma, had seen reduced sales as a result of greater competition. Meanwhile, Alliance notes its other brands are performing well including the two brands acquired from Reckitt Benckiser in April. Numis forecasts eps of 3p for the full year with 3.1p next year. Uninspiring you might think but cashflows are strong and with a Â£44m debt facility and a tidal wave of cash, further brands will be bought before too long to accelerate growth. ...

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