Alliance Pharma Regulatory News (APH)

Hardman Research: Strong Operational Cashflow

2017: strong operational cashflow - Alliance Pharma is continuing with its buy-and-build strategy having evolved through 35 acquisitions over a period of 20 years into a profitable, cash-generative, specialty pharma business. The company has a mix of international growth brands - notably Kelo-Cote and MacuShield - and a bedrock of solid local low-growth brands. In a trading statement for 2017, strong sales of its international growth brands have underpinned group sales growth and helped generate strong underlying operational cashflow. The recent acquisitions of Vamousse (third international growth brand) and Ametop (bedrock brand) look set to further enhance future performance.

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