Alliance Pharma Regulatory News (APH)

13 Jun 2007 07:02

Alliance Pharma PLC13 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 theCompany's Annual General Meeting on 16 May 2007, the Company has taken furtheraction to improve profitability through a programme that will result in annualcost savings of more than £1 million from 2008 onwards. This cost savings programme is focussed on the Company's overheads and includes11 redundancies covering all operations. The programme is designed to producecosts 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-termrevenue losses from previously announced, temporary supply shortfalls, the mainpurpose of the programme is to drive the Company's profitability. John Dawson, the Company's Chief Executive, said: "This cost-saving programmewill produce a slimmer, stronger company with an overhead at a level that willboth drive profitability and allow the Company to continue to exploit itsmarkets. From next year, the programme will release cost savings of more than £1million a year, reinforcing the Company's earlier actions to improveprofitability." For further information: Alliance Pharma plc + 44 (0) 1249 466966John Dawson, Chief Executivewww.alliancepharma.co.uk Buchanan Communications + 44 (0) 20 7466 5000Mark Court/Rebecca Skye Dietrich Notes to editors About Alliance Pharma Alliance Pharma, founded in 1996, is an AIM listed emerging specialitypharmaceutical company based in Chippenham, Wiltshire, UK. The company has astrong track record of acquiring the rights to established niche brands andowns, or shares, the rights to 34 branded pharmaceutical products. Alliance Pharma's products are prescribed in the treatment of a wide range ofconditions and include brands used in periodontitis (a serious gum disease), theprevention of heart disease, in Parkinson's disease, in nutrition, in nasalinfections, in the treatment of dermatological conditions and in childbirth.Alliance Pharma's sales are mainly prescription driven. Its products aredistributed to hospitals directly and to pharmaceutical wholesalers whichservice both hospital and retail pharmacies with their prescriptionrequirements. Alliance Pharma joined the AIM market of the London Stock Exchange in December2003 and trades under the symbol APH. This information is provided by RNS The company news service from the London Stock Exchange