Last checked at 23 May 2019 07:15
| 23 May 2019 |
ALLIANCE PHARMA PLC
("Alliance" or the "Group")
AGM Statement
Alliance Pharma plc (AIM: APH), the international healthcare group, 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 trade well, with overall performance in the current financial year in line with expectations, underpinned by continued growth from our International Star brands and a solid performance from our Local brands.
"Consequently we continue to generate strong free cash flow and, in the absence of further acquisitions, expect our adjusted net debt/EBITDA leverage ratio to reduce below 2.0 times during the second half of the year.
"We have issued a separate announcement this morning in connection with the provisional findings of an investigation by the Competition and Markets Authority ("CMA") into the sale of prescription prochlorperazine. Alliance confirms that it has not been involved in the pricing or distribution of prochlorperazine since 2013 and that it has not benefited from any price increases. We will work closely with the CMA to resolve its provisional findings.
"We look ahead to the remainder of 2019 with confidence."
For further information
Alliance Pharma plc | + 44 (0)1249 466966 |
Peter Butterfield, Chief Executive Officer |
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Andrew Franklin, Chief Financial Officer |
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www.alliancepharma.co.uk |
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Buchanan | + 44 (0)20 7466 5000 |
Mark Court / Sophie Wills / Hannah Ratcliff |
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Numis Securities Limited | + 44 (0)20 7260 1000 |
Nominated Adviser: Freddie Barnfield |
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Corporate Broking: James Black |
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Investec Bank plc | + 44 (0) 20 7597 5970 |
Corporate Finance: Daniel Adams / Ed Thomas |
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Corporate Broking: Patrick Robb / Tejas Padalkar |
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About Alliance
Alliance Pharma plc (AIM: APH) is an international healthcare group, headquartered in the UK with subsidiaries 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 focused 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 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