ALLIANCE PHARMA PLC
Alliance Pharma plc (AIM: APH)
("Alliance" or the "Group")
, the specialty pharmaceutical company, will hold its Annual General Meeting ("AGM") in London later this morning. At the meeting the Group's Chairman, David Cook, will make the following statement:
"The Group continues to progress well, with trading in the current financial year in line with expectations. We continue to see good growth from our International Star brand Kelo-cote®, for scar reduction, and the continued international rollout of MacuShield®. Our two most recent acquisitions in December 2017, Vamousse® and Ametop®, are performing in line with expectations.
"Our International distributor business continues to develop well and our European affiliates are delivering good organic growth, driven by several of our products including Kelo-cote and Aloclair®, our over-the-counter product range for mouth ulcers and oral lesions.
"We continue to have a detailed dialogue with the Medicines and Healthcare products Regulatory Agency (MHRA) regarding Diclectin™, a treatment for nausea and vomiting of pregnancy, and anticipate further feedback in due course.
"We continue to generate good cash flow and will continue to reduce our adjusted net debt/EBITDA ratio as the year progresses.
"We look forward to the year ahead with confidence."
For further information:
Alliance Pharma plc
+ 44 (0) 1249 466966
Peter Butterfield, Chief Executive Officer
Andrew Franklin, Chief Financial Officer
+ 44 (0) 20 7466 5000
Mark Court / Sophie Wills / Gemma Mostyn-Owen
Numis Securities Limited
+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Freddie Barnfield
Corporate Broking: James Black / Toby Adcock
Investec Bank plc
+ 44 (0) 20 7597 5970
Corporate Finance: Daniel Adams / Ed Thomas
Corporate Broking: Patrick Robb
Notes to editors:
Alliance Pharma plc is an international specialty pharmaceutical company.
Headquartered in Chippenham, UK, Alliance commenced trading in 1998 and has been listed on AIM since 2003. Alliance has a strong track record of acquiring established niche products and it currently owns or licenses the rights to approximately 90 pharmaceutical and consumer healthcare products. It has sales in more than 100 countries either directly via its affiliates or through its selected network of distributor partners. Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.