Adjusted pre-tax profits of £28.1m at Alliance Pharma (APH) were bang in line with broker Investec’s forecast, as well as numbers already disclosed in a January pre-close trading update. That left little room for surprises on results day, particularly as the ‘international star’ product portfolio continues to perform well. Products in this portfolio have “a distinct USP”, says chief executive Peter Butterfield, as well as high margins, a range of international rights and future growth potential.
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