AGM Statement

RNS Number : 3281H

Alliance Pharma PLC

26 May 2011

 



For immediate release

26 May 2011

 

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

AGM Statement

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, will hold its Annual General Meeting in London later this morning.

Michael Gatenby, the Company's Chairman, will make the following comments:

"I am pleased to report that trading in the first four months of 2011 has been ahead of our expectations with turnover of £17.1 million, 14% higher than the same period last year.

"As previously reported, we are facing some generic competition in relation to Deltacortril / enteric coated prednisolone and have been monitoring the impact on the sales of the product since the launch of a second generic competitor towards the end of 2010.  We reported in March 2011 that the impact had not been quite as significant as expected.  However, there has recently been increasing pressure on both price and volumes and, as a result, we have reduced our expectations for the ongoing run rate of Deltacortril sales.  Given the strong start to the year, this is not expected to significantly affect our overall performance for the current financial year. However, we are now more cautious about the outlook for Deltacortril in 2012 as this competitive market develops.

"We are pleased to report that the dermatology and oncology portfolios continue to grow well.

 "We were delighted to announce last week the renewal of the ImmuCyst^® distribution agreement and to announce last month the completion of the acquisition of Anbesol^TM and Ashton & Parsons^TM.  We continue to consider further acquisition opportunities."

For further information:

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
www.alliancepharma.co.uk
Buchanan Communications	+ 44 (0) 20 7466 5000
Mark Court / Jessica Fontaine
Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Simon Blank
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, following the Cambridge Laboratories acquisition, owns or licenses the rights to more than 50 pharmaceutical products and continues to explore opportunities to expand the range.

Alliance's products are prescribed in the treatment of a wide range of conditions and include products used in the treatment of dermatological conditions, in oncology, in childbirth, in the prevention of heart disease, in Parkinson's disease, in nutrition and in nasal infections.  Alliance's sales are mainly prescription driven.  Its products are distributed to hospitals directly and to pharmaceutical wholesalers, which service both hospital and retail pharmacies with their prescription requirements.

Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.

 

END

 

 

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