Alliance Pharma PLC (LON:APH) said revenues had more than doubled and trading profits for the year were in line with City forecasts as it provided investors with a progress report.
The specialty pharma company said it expects sales to be £97.5mln for the 12 months ended December 31, up from £48.3mln a year earlier.
The boost was provided by the acquisition of Sinclair Pharma’s healthcare products business in late 2015 for £132mln.
That said, the underlying Alliance portfolio “performed well”, delivering growth of 13%. The company’s key brands, including Kelo-Cote for scar reduction, did well as did MacuShield, for an age-related eye problem.
Digging further into the financials, cash flow was double last year’s total at £12mln, while net debt decreased £2.9mln to £76.1mln. The business was also helped a little by the weakness of the pound post-Brexit, which enhanced sales by £4.2mln.
Alliance said the UK registration for Diclectin, a product undergoing approval for the treatment for nausea and vomiting of pregnancy, is “progressing to plan”.
“We expect UK registration mid-year, which will enable us to begin sales in the second half of 2017 with European territories following from late 2018,” it added.