Acquisition in Germany

RNS Number : 5561X

Alliance Pharma PLC

14 January 2014

 



For immediate release

14 January 2014

 

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

Acquisition in Germany

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^TM 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. 

Commenting on the acquisition, John Dawson, Alliance Pharma's Chief Executive, said: "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."

For further information:

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
Buchanan	+ 44 (0) 20 7466 5000
Mark Court / Fiona Henson / Sophie Cowles
Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Oliver Cardigan / Freddie Barnfield
Corporate Broking: David Poutney

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.

 

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