AGM Statement
ALLIANCE PHARMA PLC
("Alliance" or the "Group")
Alliance Pharma plc (AIM: APH), the specialty 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:
The year is proceeding well for the Company as we continue to develop our pan-European business.
Trading in the current financial year is good and in line with the Board's expectations. Our key international growth brands, Kelo-Cote™, for scar reduction, and MacuShield™, a nutritional supplement product for age-related macular degeneration (AMD), continue to deliver a strong performance.
"We continue to expect that the UK registration approval for Diclectin, for the treatment for nausea and vomiting of pregnancy, will be granted in Q3 2017, which will enable us to begin commercial sales around the end of 2017 with sales in European territories following approximately 12 months later.
"Cash flow in the business remains strong and we are on target to reduce our adjusted net debt/EBITDA ratio to around 2x by the end of the year.
"We look forward to the year ahead with much confidence.
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:
About Alliance Pharma
Alliance, founded in 1998, is an international speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has sales in more than 100 countries worldwide via direct sales, joint ventures and a network of distributors. Alliance has a strong track record of acquiring the rights to established niche products and it currently owns or licenses the rights to approximately 90 pharmaceutical and consumer healthcare products. The Company continues to explore opportunities to expand its product portfolio.
Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH