Settlement Agreement

RNS Number : 6224E

Alliance Pharma PLC

05 November 2015

 



For immediate release

5 November 2015

 

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

Settlement Agreement

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
John Dawson, Chief Executive
Buchanan	+ 44 (0) 20 7466 5000
Mark Court / Sophie Cowles / Jane Glover
Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / 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 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.

 

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