Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, announces its pre-close trading update for the year ended 31 December 2011. The Board expects to report turnover for 2011 of around £46m and for pre-tax profits to be in line with market expectations.
Sales of Hydromol and ImmuCystTM continued to grow well.
During the year, sales of Deltacortril / enteric coated prednisolone continued to be affected by increased competition and by a shift in the prednisolone market towards uncoated tablets. Deltacortril sales for 2011 were £4.7m, of which sales of £1.1m were generated in the second half of the year.
Sales of Nu-Seals in the Republic of Ireland were £5.1m, up 14% on the prior year despite a price reduction at the start of 2011 and the launch of a generic competitor during autumn 2011. However, we remain cautious about the outlook for Nu-Seals in the current year because the Irish government is continuing to look at measures to reduce its medicines bill.
We are implementing a number of efficiency measures and other cost savings and believe that these steps, together with the impact of the three acquisitions completed in 2011, should largely compensate for the impact of the further reduction in sales of Deltacortril and the risk to Nu-Seals.
For further information:
Alliance Pharma plc
+ 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
+ 44 (0) 20 7466 5000
Mark Court / Jessica Fontaine
Numis Securities Limited
+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Oliver Cardigan
Corporate Broking: David Poutney
Notes to editors:
Alliance, founded in 1998, is an AIM listed speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has a strong track record of acquiring the rights to established niche products and, following the Cambridge Laboratories acquisition, owns or licenses the rights to more than 50pharmaceutical products and continues to explore opportunities to expand the range.
Alliance's products are prescribed in the treatment of a wide range of conditions and include products used in the treatment of dermatological conditions, in oncology, in childbirth, in the prevention of heart disease, in Parkinson's disease, in nutrition and in nasal infections. Alliance's sales are mainly prescription driven. Its products are distributed to hospitals directly and to pharmaceutical wholesalers, which service both hospital and retail pharmacies with their prescription requirements.
Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.
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