Alliance Pharma, the highly-acquisitive speciality pharmaceutical company, has around £22m on tap to add to its growing portfolio of branded medicines and treatments, it said this week.
The undrawn funds are available in its bank facility, the Chippenham-based firm announced in a pre-close trading update to the London Stock Exchange ahead of its interim results for the six months to June 30.
First-half trading had been in line with management expectations, it said, with total turnover including its share of joint ventures down 1.3% to £22.5m.
Star performers among its brands were dry skin treatment Hydromol, which achieved a 15% growth in sales to £3m during the period, while sales of its Ashton & Parsons Infants’ Powder natural remedy for teething pain soared from £100,000 in the same period last year to £700,000. However, sales of its -Seals aspirins fell by 12.5% to £1.4m.
Alliance’s recent acquisitions of Lypsyl lip balm in the UK and Ireland and respiratory treatment Irenat in Germany had performed broadly in line with expectations, it said, with Lypsyl delivering £500,000 sales and Irenat £400,000 sales in the period.
The firm, which buys underperforming drugs brands and realises their potential through investment, said it continue to expect 2014’s trading performance to be in line with its plans, before the positive impact of any further acquisitions.
Its interim results for the six months to June 30 are scheduled to be released on September 10.