18th Aug 2008 12:29
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For Immediate Release |
18 August 2008 |
ALLIANCE PHARMA PLC
("Alliance Pharma" or "the Company")
Product Acquisition
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, is pleased to announce it has acquired the marketing rights to the brand Pavacol-D®, which is an opioid cough suppressant especially suitable for use in diabetics. At present it is only sold in the UK.
Pavacol-D® has annualised sales of approximately £400,000 and has been acquired from William Ransom & Son plc for a one-off cash consideration of £600,000. The acquisition has been funded partly through the Company's debt facility provided by the Bank of Scotland and partly from the proceeds of the tax rebate received by the Company in June 2008. The acquisition is expected to be earnings enhancing in the current year.
John Dawson, Alliance Pharma's Chief Executive, commented:
"We are very pleased with this acquisition, which should provide a useful boost to our sales and margins. Our infrastructure is set up favourably to absorb acquisitions such as this, and we continue to seek and evaluate opportunities to acquire further brands and enhance earnings and shareholder value accordingly."
For further information:
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Alliance Pharma plc |
+ 44 (0) 1249 466966 |
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John Dawson, Chief Executive |
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Richard Wright, Finance Director |
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www.alliancepharma.co.uk |
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Buchanan Communications |
+ 44 (0) 20 7466 5000 |
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Mark Court / Rebecca Skye Dietrich |
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Numis Securities Limited |
+ 44 (0) 20 7260 1000 |
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Nominated Adviser: Michael Meade / Brent Nabbs Corporate Broking: David Poutney |
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