19th Jul 2016 08:26
LONDON (Alliance News) - Specialty pharmaceutical company Alliance Pharma PLC on Tuesday said revenue more than doubled in the first half of 2016 thanks to the acquisition of the Sinclair Healthcare Products business, and trading was in line with its expectations.
Separately, Sinclair Pharma PLC, from which Alliance Pharma bought the healthcare products unit in October last year, also reported a surge in the half to the end of June after the prior year had been hit by a planned destocking.
Alliance Pharma said revenue in the half-year to the end of June grew to GBP46.4 million from GBP22.8 million a year earlier, GBP20.6 million of which was contributed by the Sinclair Healthcare Products integration.
Alliance said its three key brands performed in line in the half, with strong sales from its Kelo-cote scar gel, Hydromol skin care ointment and MacuShield opthamology lines.
Alliance said it remains too early to assess the impact of Brexit on its business, but it said it does not anticipate any issues with market access in Europe nor any adverse effect from the depreciation of sterling.
Alliance will publish interim results on September 14. Alliance shares were up 4.1% to 45.56 pence.
Sinclair, which is now focused on its aesthetics medicines portfolio, said revenue in the half to the end of June was GBP17.2 million, more than double the GBP7.7 million made in the destocking-hit comparable period the year before.
Silhouette, the company's skin lifting and repositioning product, saw sales almost double in the half while sales nearly tripled for Ellanse, the firm's collagen stimulator product. Sales also more than doubled for Sinclair's Perfectha acid filler and for its Sculptra dermal filler.
"With growth driven by geographical roll-out and line extensions, we are well placed to deliver our promised growth in the short term and remain highly optimistic that the company can deliver strong growth in the medium term," said Sinclair Chief Executive Chris Spooner.
Sinclair shares were up 3.3% to 31.00p Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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