ALLIANCE PHARMA PLC
("Alliance" or the "Group")
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, announces that its wholly owned subsidiary Alliance Pharmaceuticals Limited has acquired the rights to the thyroid product Irenat™ from subsidiaries of Bayer AG ("Bayer").
Irenat, a sodium perchlorate monohydrate, is marketed in Germany and is mainly used for diagnosing and treating hyperthyroidism.
In the 12 months to October 2013, total sales of Irenat by Bayer were €0.8 million and the gross margin generated was €0.5 million.
“We are delighted to acquire this well established specialist product to kick start our trading operations in Germany. The acquisition, our first in Germany, will be immediately earnings enhancing and fits well with our strategy of building Alliance's international sales”
John Dawson, Alliance Pharma's Chief ExecutiveFOR FURTHER INFORMATION:
Alliance Pharma plc + 44 (0)1249 466966
Peter Butterfield, Chief Executive Officer
Andrew Franklin, Chief Financial Officer
Buchanan + 44 (0)20 7466 5000
Mark Court / Sophie Wills / Hannah Ratcliff
Numis Securities Limited + 44 (0)20 7260 1000
Nominated Adviser: Michael Meade / Freddie Barnfield
Corporate Broking: James Black
Investec Bank plc + 44 (0)20 7597 5970
Corporate Finance: Daniel Adams / Ed Thomas
Corporate Broking: Patrick Robb / Tejas Padalkar
Notes to editors:
About Alliance
Alliance, founded in 1998, is an AIM listed speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has a strong track record of acquiring the rights to established niche products and owns or licenses the rights to more than 60 products and continues to explore opportunities to expand the range.
Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.