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23 May 2019 |
ALLIANCE PHARMA PLC
("Alliance" or the "Company")
Comment on CMA Statement of Objections
Alliance Pharma plc (AIM: APH), the international healthcare group, notes the announcement this morning from the Competition and Markets Authority ("CMA") that it has issued a Statement of Objections to a number of companies including Alliance alleging anti-competitive agreements in relation to the sale of prescription prochlorperazine, one of the smaller products in Alliance's portfolio which had peak sales in 2015 of £1.9m and sales of less than £0.2m in 2018.
Alliance confirms that it has had no involvement in the pricing or distribution of prochlorperazine since 2013, when it was out-licensed by the Company to Focus Pharmaceuticals Limited on an exclusive basis as is normal market practice. Alliance has not had control of or influence on, and nor has it benefited from, any price increases.
Prior to 2013, prochlorperazine was marketed directly by the Company.
Alliance will review the Statement of Objections in detail and work closely with the CMA to resolve its alleged objections. Alliance strongly condemns anti-competitive practices.
Further announcements will be made as appropriate.
For further information:
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Alliance Pharma plc |
+ 44 (0)1249 466966 |
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Peter Butterfield, Chief Executive Officer |
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Andrew Franklin, Chief Financial Officer Chris Chrysanthou, Head of Legal and Company Secretary |
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www.alliancepharma.co.uk |
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Buchanan |
+ 44 (0)20 7466 5000 |
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Mark Court / Sophie Wills / Hannah Ratcliff |
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Numis Securities Limited |
+ 44 (0)20 7260 1000 |
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Nominated Adviser: Freddie Barnfield / Freddie Naylor-Leyland |
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Corporate Broking: James Black |
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Investec Bank plc Corporate Finance: Daniel Adams / Ed Thomas Corporate Broking: Patrick Robb / Tejas Padalkar |
+ 44 (0)20 7597 5970 |
About Alliance
Alliance Pharma plc (AIM: APH) is an international healthcare group, headquartered in the UK with affiliate offices in Europe, the Far East and the US and wide international reach through an extensive network of distributors, generating sales in more than 100 countries.
We currently own or license the rights to more than 90 pharmaceutical and consumer healthcare products, which are managed on a portfolio basis according to their growth potential. Promotional investment is focussed on a small number of brands with significant international or multi-territory reach. The remainder of the portfolio comprises products which are sold in a limited number of local markets and require little or no promotional investment.
Our tried and tested 'Buy and Build' strategy, allows us to benefit both from organic growth opportunities and from enhancing our growth rate through carefully selected acquisitions.
For more information on Alliance, please visit our website: www.alliancepharmaceuticals.com
