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Alliance Pharma's profit up 17 per cent

Alliance Pharma has recorded a net profit increase of 17 per cent for the first half of 2011, with sales up 4 per cent

Alliance Pharma has recorded a net profit increase of 17 per cent for the first half of 2011.

The speciality pharmaceutical company made a pre-tax profit of £7m for the period compared to £6m for the first half of 2010.

Sales were also up, increasing by 4 per cent from £23.4m for the first half of 2010 to £24.4m for the same period of 2011.

The company also announced the acquisition of UK marketing rights to six products from Beacon Pharmaceuticals for £2.4m. The products include acne treatment Rizuderm (isotretinoin).

The move follows previous acquisitions for Alliance this year, including the pain relief therapy Anbesol (benzocaine).

Michael Gatenby, chairman of Alliance Pharma, said: "We are delighted with the two earnings-enhancing acquisitions announced so far this year and continue to assess further opportunities."

7th September 2011

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