ALLIANCE PHARMA PLC
("Alliance" or the "Group")
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, has agreed compensation from Sanofi Pasteur following the suspension of manufacturing since mid-2012 of the bladder cancer treatment ImmuCyst™. Alliance will receive £6.7m in cash, inclusive of costs, in full and final settlement of Alliance's claims.
Alliance will continue to distribute ImmuCyst in the UK and looks forward to bringing the product back into supply before the end of the year. The Company expects that future stocks of ImmuCyst will be constrained.
The proceeds of the settlement agreement will be used to reduce Alliance's net bank debt.
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.