Alliance Pharma PLC
13 June 2007
For immediate release 13 June 2007
ALLIANCE PHARMA PLC
('Alliance' or 'the Company')
Further Progress in Improving Profitability
Alliance Pharma plc (AIM: APH), the emerging speciality pharmaceutical company,
is pleased to announce that, further to the statement made at the time of the
Company's Annual General Meeting on 16 May 2007, the Company has taken further
action to improve profitability through a programme that will result in annual
cost savings of more than £1 million from 2008 onwards.
This cost savings programme is focussed on the Company's overheads and includes
11 redundancies covering all operations. The programme is designed to produce
costs savings of more than £1 million in the year to 31 December 2008 onwards.
Whilst the decision to implement the cost savings programme follows short-term
revenue losses from previously announced, temporary supply shortfalls, the main
purpose of the programme is to drive the Company's profitability.
John Dawson, the Company's Chief Executive, said: 'This cost-saving programme
will produce a slimmer, stronger company with an overhead at a level that will
both drive profitability and allow the Company to continue to exploit its
markets. From next year, the programme will release cost savings of more than £1
million a year, reinforcing the Company's earlier actions to improve
profitability.'
For further information:
Alliance Pharma plc + 44 (0) 1249 466966
John Dawson, Chief Executive
www.alliancepharma.co.uk
Buchanan Communications + 44 (0) 20 7466 5000
Mark Court/Rebecca Skye Dietrich
Notes to editors
About Alliance Pharma
Alliance Pharma, founded in 1996, is an AIM listed emerging speciality
pharmaceutical company based in Chippenham, Wiltshire, UK. The company has a
strong track record of acquiring the rights to established niche brands and
owns, or shares, the rights to 34 branded pharmaceutical products.
Alliance Pharma's products are prescribed in the treatment of a wide range of
conditions and include brands used in periodontitis (a serious gum disease), the
prevention of heart disease, in Parkinson's disease, in nutrition, in nasal
infections, in the treatment of dermatological conditions and in childbirth.
Alliance Pharma'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 Pharma joined the AIM market of the London Stock Exchange in December
2003 and trades under the symbol APH.
This information is provided by RNS
The company news service from the London Stock Exchange
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