Proactiveinvestors United Kingdom Alliance Pharma

RNS press release - Notification of Major Interest in Shares

Mon, 14 May 2012 11:09:00 +0100

RNS press release - Notice of AGM

Tue, 10 Apr 2012 12:02:00 +0100

Alliance Pharma CEO looks forward to continued good growth prospects

Fri, 30 Mar 2012 13:56:00 +0100

John Dawson, CEO of Alliance Pharma (LON:APH) tells Proactiveinvestors that the future is looking good. With sales rising at 19% compound pa over the last five years, rising profitability, falling debt and a "progressive dividend strategy", everything is there. John says that he and his team will just continue proving the business model, making more acquisitions and then let the market catch up.

RNS press release - Annual Report and Accounts

Tue, 27 Mar 2012 09:00:00 +0100

Alliance Pharma: Underlying growth of business remains strong

Thu, 22 Mar 2012 08:24:00 +0000

Branded medicines seller Alliance Pharma (LON:APH) is actively seeking further acquisitions to support growth in 2012, as it revealed solid figures for the past year.

The company reported strong underlying growth and as a nod to future confidence increased its proposed final dividend 25 per cent to 0.50 pence per share.

It comes after the company made three acquisitions last year with combined sales of £4.7 million. Promoted products Hydromol and ImmuCyst achieved like-for-like sales growth of 25 per cent and 12 per cent respectively

Chairman Michael Gatenby told investors today: "The underlying growth of our business remains strong and cash generation remains healthy.

"We were particularly pleased with the sales growth of our promoted products coupled with the dependable sales of our core products.

"We successfully completed three acquisitions during the year and continue to seek and evaluate further acquisition opportunities."

As anticipated, sales for the year to December 31 were down 8 per cent at £46.0 million, while underlying sales, excluding Deltacortril, were up 13 per cent. The reduction in Deltacortril was partially offset by good organic growth in other products, the firm said.

Pre-tax profit stood at £10.7 million (2010: £12.9mln).

Last year saw the firm continue its strategy with three completed acquisitions, which added ten products. Alliance Pharma pointed out that it had successfully completed acquisitions each year for the past six years.

Over those six years, its sales have grown at an average compound rate of 21 per cent per year, of which 14 per cent has come from acquisitions.

Gatenby said he regarded acquisitions as an integral part of the business model.

"With a strong financing position, including £13m of headroom in our revolving credit facility, we are now able to contemplate targets larger than any of those we have acquired so far. Market conditions remain favourable, and we are optimistic about the prospects for further attractive acquisitions in 2012."

In a note, broker finnCap, which rates the stock a 'buy' said the results were "broadly in line" with its estimates, adding it expected the firm to perform slightly ahead of 2011 in the current year, then to return to stronger growth in the subsequent year.

The broker targets a price of 36 pence for the stock.

RNS press release - Preliminary Results

Thu, 22 Mar 2012 07:00:00 +0000

RNS press release - CULS Conversion

Wed, 21 Mar 2012 13:00:00 +0000

RNS press release - CULS Conversion

Thu, 08 Mar 2012 16:00:00 +0000

RNS press release - Notification of Preliminary Results

Thu, 02 Feb 2012 07:00:00 +0000

Alliance Pharma remains a ‘buy’ at Investec Securities

Wed, 25 Jan 2012 11:03:00 +0000

Broker Investec Securities has reiterated its ‘buy’ stance on branded medicines seller Alliance Pharma (LON:APH) after last week’s pre-close trading statement, and said the recent sell-off has created a more attractive buying opportunity.

Alliance announced last week that pre-tax profits will be in line with market expectations with annual revenues predicted to be around £46 million for the year just ended.

The speciality pharmaceutical group said its Deltacortril steroid pill continued to be affected by increased competition. Total sales for the 12 months to December 31 were £4.7 million, with £1.1 million coming in the second half.

“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 (steroid pill) Deltacortril and the risk to (coted aspirin tablet) Nu-Seals,” the company had said.

In a note, Investec said the update saw its revenue forecasts marginally exceeded, but the net effect of minor operational issues, a slightly unfavourable outlook for Nu-Seals and recent acquisitions drive minor downgrades to its forecasts, which were at the higher end of consensus.

While the new forecasts lead the broker to reduce its price target to 34 pence from 37 pence, the target still supports a ‘buy’ recommendation. Alliance was last trading at 28.7 pence.

Analyst Nicholas Keher believes there is potential for further share price rises from acquisitions, given Alliance’s fire-power with £13.5 million of its revolving credit facility still untapped and the active search under way.

“Liquidity remains an issue, but has exaggerated the (recent) sell-off and created a more attractive buying opportunity in our view,” he added.

Alliance Pharma: Numis maintains 37p price target

Mon, 16 Jan 2012 10:32:00 +0000

Broker Numis maintains its price target of 37 pence a share on Alliance Pharma (LON:APH), adding it saw potential for further 'earnings accretive' product acquisitions from the firm.

The firm, which sells branded medicines, said pre-tax profits would be in line with market expectations with annual revenues predicted to be around £46 million for the year just ended.

In a pre-close trading update the speciality pharma group said its Deltacortril steroid pill continued to be affected by increased competition.

Total sales for the 12 months to December 31 were £4.7 million, with £1.1 million coming in the second half.

However it added that sales of its Hydromol cream and ImmuCyst for bladder cancer “continued to grow well”.

Revenues from Nu-Seals, a coated aspirin tablet used as an anti-clotting agent sold mainly in the Republic of Ireland, were up 14 per cent to £5.4 million.

“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,” the company said.

Analyst Charles Weston, of Numis, said that the broker was keeping its pre-tax profit estimate of £10.7 million for the year just gone. And for 2012, he said he was lifting its sales forecast from £45.9 million to £47.1million.

But, he added, that given the potentially lower mix of high margin Deltacortril and Nu-Seals, its PBT (profit before tax) forecast fell from £11.1 million to £10.9 million.

"This includes the effect of further efficiency measures that management is implementing to face these head-winds. Our 2013 profit forecasts remain largely unchanged," said the analyst.

Alliance Pharma profits forecast to meet expectations

Mon, 16 Jan 2012 07:31:00 +0000

Alliance Pharma said pre-tax profits will be in line with market expectations with annual revenues predicted to be around £46 million for the year just ended.

RNS press release - Pre-Close Trading Update

Mon, 16 Jan 2012 07:01:00 +0000

Alliance Pharma acquires Quinoderm and Ceanel brands for £1.5 mln

Mon, 19 Dec 2011 08:01:00 +0000

Alliance Pharma (LON:APH) has expanded its product portfolio with the acquisition of two skin care brands.

This morning it revealed the deal to acquire the Quinoderm and Ceanel brands from Ferndale Pharmaceuticals Ltd for £1.5m in cash. Quinoderm is a treatment for acne and Ceanel is a shampoo treatment for scalp psoriasis.

The two brands contributed sales of £600,000 in the twelve months to September 30 2011.

"We are delighted to announce this acquisition, which extends our Dermatology portfolio. Quinoderm complements our existing product Rizuderm (isotretinoin), a treatment for severe acne acquired in September this year,” said chief executive John Dawson.

"Today's acquisition, which represents our third transaction this year, is expected to be earnings enhancing in 2012. We continue to evaluate further opportunities to broaden our product portfolio."

The deal is being funded via a £20 million revolving credit facility which was set up last November.

The facility was established to support the group’s acquisition strategy. Today it said that £6.5 million of the facility has now been used.

RNS press release - Acquisition of Brands

Mon, 19 Dec 2011 07:00:00 +0000

Alliance Pharma’s business model “misunderstood” by stock market, says Investec

Thu, 08 Dec 2011 11:29:00 +0000

The pharmaceutical firm is defensive and cash generative, says the broker, while the implications of lost sales from its Deltacortril product are not understood by investors

Alliance Pharma is “a stock for the times”, says Collins Stewart

Thu, 17 Nov 2011 14:51:00 +0000

The broker says that the life sciences firm demonstrates solid underlying revenue growth with strong cash generation and a progressive dividend policy

RNS press release - Exercise of Options

Fri, 21 Oct 2011 17:56:00 +0100

RNS press release - Exercise of Options

Wed, 21 Sep 2011 15:30:00 +0100

RNS press release - Exercise of Options

Fri, 16 Sep 2011 14:23:00 +0100