Alliance Pharma PLC - pharmaceutical company based in Wiltshire - Completes its acquisition of US-based, privately held consumer healthcare firm Biogix Inc. Total consideration USD110.0 million, paid in cash from existing financial resources. The buy adds the Amberen brand to Alliance Pharma's portfolio, a product intended to relieve menopause symptoms and in a new market segment for the company.
Chief Executive Peter Butterfield: "As an established, clinically evidenced brand with significant sales and good growth potential, in a growing market, Amberen fits perfectly with our strategy of acquiring established consumer healthcare brands in territories where we already have a presence."
Current stock price: 85.77 pence; up 8.7% on Tuesday
Year-to-date change: up 2.0%
By Anna Farley; annafarley@alliancenews.com
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Alliance Pharma (APH)