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Alliance announces near-trebling profits

Alliance Pharma has announced a maiden dividend and strong first-half results, with sales up 34 per cent

Alliance Pharma has announced a maiden dividend and strong first-half results, with sales up 34 per cent. Deltacortril (prednisolone), its auto-immune drug, was the main driver of the sales growth, but there was a strong performance across the company's entire porfolio.

Alliance Pharma's chairman, Michael Gatenby said: "We are delighted to announce another set of strong results and the commencement of dividends. We now have a business generating sufficient profitability and cash flow to support both steady debt reductions and growing dividend payments."

Deltacortril was acquired by Alliance Pharma from Pfizer in 2006, and in August 2009 the company announced the acquisition of the prescription and OTC brand, Buccastem, as well as Timodine (on prescription only in the UK) from subsidiaries of Reckitt Benckiser. Gatenby confirmed that the company continues to seek acquisition opportunities to increase their portfolio.

10th September 2009

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