Alliance Pharma, the specialty pharmaceutical company, has announced results for the year ended 31 December 2016.
The company has reported net profit of €20.8 million, which is increase compared to last years profit of €14.6 million.
Andrew Smith, Alliance’s Chairman, commented results: “2016 has been transformational for Alliance following the acquisition of the Sinclair healthcare products business. Sales and profits have broadly doubled and our geographic reach extends to more than 100 countries. Having successfully integrated the acquisition, we are now focused on our three international growth opportunities – Kelo-cote, MacuShield and Diclectin.”
“The current year has started well and we look forward to building on our foundations: an attractive, balanced portfolio, an expanded geographic footprint and a strong team,” Smith added.
The company said that it anticipates continued growth from its key international growth brands, Kelo-cote and MacuShield.
The net debt/EBITDA ratio has reduced in Q1 and the company projects the downward progression to continue in 2017. This has been assisted by the funds to be received from Sinclair in relation to the Kelo-stretch settlement, the company said.
The company further announces in its press release that a major growth initiative is the launch of Diclectin to meet the unmet need for an approved treatment of nausea and vomiting of pregnancy. This depends on regulatory approval which is anticipated to be in Q3 2017 for the UK and approximately one year later for our other EU territories.