TIDMAPH

RNS Number : 5237E

Alliance Pharma PLC

19 July 2016

 
 For immediate release                                                 19 July 2016

ALLIANCE PHARMA PLC

("Alliance" or the "Group")

Half Year Trading Update

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, announces its pre-close trading update ahead of the announcement of its interim results for the six months ended 30 June 2016.

The Group performed well and in line with the Board's expectations with sales more than doubling to GBP46.4m (2015: GBP22.8m), following the Group's transformational acquisition of the Sinclair Healthcare Products business in December 2015. The Sinclair products contributed sales of GBP20.6m.

Our three key growth brands performed in line with expectations with our largest-selling brand, Kelo-cote(TM), acquired from Sinclair in December 2015, achieving sales of GBP4.1m. Hydromol(TM) maintained strong sales growth of 10% in the first half with sales of GBP3.5m for the six month period. Our ophthalmology product, MacuShield(TM), acquired in February 2015, delivered GBP2.0m in the first half versus GBP1.4m in the first five months post-acquisition in February 2015.

The integration of the Sinclair products under the Alliance name is progressing well. Activities relating to finance and operations are expected to be largely complete by the end of the third quarter this year and product transfers in the countries are proceeding in line with local regulatory timelines.

It is too early to assess the long-term impact of the UK's decision to leave the European Union, although, having operations in France, Germany, Italy and Spain, we do not anticipate any issues over market access. Additionally, we do not expect to be adversely affected by the current sterling exchange rate volatility. Indeed, if current exchange rates prevail we would expect a modest benefit to our sales and financial performance as we expect trading volumes to continue in line with expectations throughout 2016.

Alliance's interim results for the six months ended 30 June 2016 are scheduled to be released on 14 September 2016.

For further information:

 
 Alliance Pharma plc                             + 44 (0) 1249 466966 
 John Dawson, Chief Executive 
  Andrew Franklin, Chief Financial 
  Officer 
 Sarah Robinson, Company Secretary 
 www.alliancepharma.co.uk 
                                                     + 44 (0) 20 7466 
 Buchanan                                                        5000 
 Mark Court / Sophie Cowles 
  / Jane Glover 
 
                                                     + 44 (0) 20 7260 
 Numis Securities Limited                                        1000 
 Nominated Adviser: Michael 
  Meade / Freddie Barnfield 
 Corporate Broking: James 
  Black / Toby Adcock

Notes to editors:

About Alliance Pharma

Alliance, founded in 1998, is an international specialty pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has sales in more than 100 countries worldwide via direct sales, joint ventures and a network of distributors. Alliance has a strong track record of acquiring the rights to established niche products and it currently owns or licenses the rights to approximately 90 pharmaceutical and consumer healthcare products. The Company continues to explore opportunities to expand its product portfolio.

Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.

This information is provided by RNS

The company news service from the London Stock Exchange

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