IS Pharma, the international speciality pharmaceutical company, announced its interim results for the six months ended 30 September 2010. H1 revenue was up 10% to £6.5m, profit from operations was up 98% to £1.8m and profit after tax was up 192% to £1.1m. IS Pharma's key products, including Variquel, Aloxi and Episil have all enjoyed strong sales growth as their distribution has been rolled out across the UK and Europe. With these achievements, it appears that IS Pharma is on track to meet its broker's full-year sales expectation of £14.7 million and PBT of £2.9 million. IS Pharma also announced its intention to pay a maiden dividend in FY2010/11.

The company also announced that it has raised £12.5 million (gross) through the placing of 15,625,000 shares at 80p. The placement joins the earlier £3.6 million placing to Abingworth LLP on 6 October 2010 at 77p. The proceeds will be used to pay the £2.4 million earn-out to SEP for Variquel and £3 million in loan notes issued to finance the acquisition of Acorus and fund future acquisitions.

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