Revenues remain stable at pharma giant
Pharmaceutical firm Alliance Pharma say revenues have remained stable over the last six months.
The Wiltshire-based company said in the first half of the year revenues were £82.4m compared to £81m 12 months ago.
Chief executive Peter Butterfield, who had taken a break from his role, is now back in post.
Butterfield was caught up in an investigation by the UK competition watchdog. The Competition and Markets Authority has been investigating alleged anti-competitive practices in relation to the sale of prescription anti-nausea tablets.
The latest figures includes revenue from the recent US acquisition ScarAway and the US rights to Kelo-Cote.
The company said the first half saw a mixed performance with regulatory issues resulting in some manufacturing delays in certain smaller products.
Revenue growth for the Kelo-Cote franchise and Nizoral was in line with the board’s expectation.
Market demand for Kelo-Cote continues to grow strongly and the board’s expectations for group operating performance in the full year remains unchanged.
Chief executive Peter Butterfield said: “I am pleased to be back in the business full time and to be focused on driving the Company’s growth through the implementation of our long-term strategy.
“We are encouraged by the recovery in China and the significant market share gains made by Kelo-Cote, along with the excellent progress of Nizoral. Meanwhile our wider portfolio continues to provide a robust platform from which to grow our Consumer Healthcare brands.
“Our free cash flow is expected to continue to build strongly throughout 2023, which we anticipate will reduce our net debt and leverage by the end of the year. The Board’s expectation for full year operating performance is unchanged.”
