Shares in Alliance Pharma (APH) have effectively been treading water since they fell in November 2015 on the back of the announcement that it had snapped up 27 products from Aim-traded rival Sinclair Pharma. There were concerns in some quarters management might have over-extended itself given it was buying 27 products as part of the deal. But the more than 4 per cent rise in the shares after a half-year trading update perhaps suggests some easing of concern about Alliance's ability to integrate its target.
Revenue is expected to more than double to £46.4m in the first half of the financial year, with a £20.6m contribution from the Sinclair range. The integration of these products is reportedly progressing well, with financial and operational activities expected to be completed by the end of September 2016.
22/7/16: This article has been updated to clarify that Alliance Pharma bought Sinclair Pharma's non-aesthetics division, rather than acquiring the entire share capital of the group.
