Alliance Pharma Regulatory News (APH)

9 Jan 2008 07:00

Alliance Pharma PLC09 January 2008 For immediate release 9 January 2008 ALLIANCE PHARMA PLC ("Alliance Pharma" or "the Company") Pre-close Trading Update Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, ispleased to announce that trading in the year to 31 December 2007 has been inline with market expectations. As expected, sales have strengthened considerablyin the second half, reflecting in part the progress made in resolving the supplychain issues that impacted the first half. Turnover in the second half of 2007was £10.4m, up £2.6m on the first half. Turnover for the full year to 31December 2007 was £18.2m, an increase of 6% on the previous year. Alliance Pharma continues to search for a partner with whom to take forward thedevelopment of Posidorm, the Company's melatonin product for sleep disorders.Discussions continue with a number of potential partners but in the absence ofconfirmed funding to progress the development the Company is preparing torecognise an impairment to Posidorm's carrying value, which will result in anexceptional non-cash charge of approximately £3.4m. Alliance Pharma continues tobelieve that Posidorm has considerable potential and the Company will continueto search vigorously for a route to unlock that potential. Before the Posidorm impairment, Alliance Pharma expects to report a modestprofit for the year in line with expectations and demonstrating a significantturnaround from the £0.9m loss reported for the first half of 2007. Alliance Pharma's preliminary results for the year to 31 December 2007 will beannounced on 14 March 2008. For further information:Alliance Pharma plc + 44 (0) 1249 466966 John Dawson, Chief ExecutiveRichard Wright, Finance Directorwww.alliancepharma.co.uk Buchanan Communications + 44 (0) 20 7466 5000 Mark Court / Rebecca Skye Dietrich Numis Securities + 44 (0) 20 7260 1000David Poutney / Michael Meade Notes to editors About Alliance Pharma Alliance Pharma, founded in 1996, is an AIM listed speciality pharmaceuticalcompany based in Chippenham, Wiltshire, UK. The company has a strong trackrecord of acquiring the rights to established niche brands and owns, or shares,the rights to 34 branded pharmaceutical products and continues to exploreopportunities to expand the range. Alliance Pharma's products are prescribed in the treatment of a wide range ofconditions and include brands used in the prevention of heart disease, inParkinson's disease, in nutrition, in nasal infections, in the treatment ofdermatological conditions, in childbirth and in the treatment of periodontitis(a serious gum disease). Alliance Pharma's sales are mainly prescription driven.Its products are distributed to hospitals directly and to pharmaceuticalwholesalers which service both hospital and retail pharmacies with theirprescription requirements. Alliance Pharma is also developing novel products for sleep disorders and theinduction of labour. 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