Hardman & Co Issues Research Report on Alliance Pharma
ALLIANCE PHARMA PLC
("Alliance" or the "Group")
Set for resumption in growth: Alliance Pharma released a solid set of full year numbers, demonstrating the resilience of its underlying core businesses. As the company emerges from the loss of its toxicology product the business appears ready to resume growth with FY 14 underlying pre-tax profit growth having been 15%. The 2015 acquisition of MacuVision provides an additional franchise upon which to build. Coupled with a robust balance sheet and the capacity to fund quite significant opportunities, the outlook for growth looks better than it has done for 3 years.
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