AGM Statement - 27 May 2015
ALLIANCE PHARMA PLC
("Alliance" or the "Group")
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, will hold its Annual General Meeting ("AGM") in London later this morning. At the meeting, the Company's Chairman, Andrew Smith, will make the following statement:
"Trading in the first four months of 2015 has been satisfactory with revenue of £15.6 million, which is 6% higher than the same period last year (2014: £14.7 million)."
"Hydromol™, our biggest brand, has continued to grow strongly, with sales in the first four months of the year up 14% on the same period in the prior year. In the first three months after acquisition, MacuShield™ sales have been in line with our expectations, up 12% on the same period the previous year."
"We continue to expect supplies of ImmuCyst™ to be resumed in the second half of the year, though initial quantities are still uncertain."
"As previously announced, Richard Wright will be stepping down as Finance Director on 31 May 2015. On behalf of the Board, I extend our thanks to Richard for his excellent work at Alliance and wish him every success in the future. The process to recruit his replacement is progressing well."
"We have a strong pipeline of potential acquisition opportunities and have more than £20 million of undrawn bank facilities available to us."
“We look forward to the remainder of 2015 with confidence.”Company's Chairman, Andrew Smith
For 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:
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 pharmaceutical 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.