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30/03/2012

Alliance Pharma CEO looks forward to continued good growth prospects

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Additional Information
Market: AIM
Sector: Pharmaceuticals & Biotechnology
EPIC: APH
Latest Price: 28.75p  (0,00%)
52-week High: 37.13p
52-week Low: 26.25p
Market Cap: 69.17M
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Alliance Pharma
www.alliancepharma.co.uk

Alliance Pharma plc is a United Kingdom-based pharmaceutical company. The Company is engaged in the development, marketing and distribution of pharmaceutical products. Its brands include Nu-Seals, Forceval, Hydromol, Deltacortril, Symmetrel, Syntocinon, Naseptin, Syntometrine, Synacthen and Slow-K.

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Alliance Pharma: Numis maintains 37p price target

16th Jan 2012, 10:32 am by Giles Gwinnett 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

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.

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