AGM Statement

16 May 2007 09:58

Alliance Pharma PLC16 May 2007 For immediate release 16 May 2007 ALLIANCE PHARMA PLC ("Alliance" or "the Company") AGM Statement Alliance Pharma plc (AIM: APH), the emerging speciality pharmaceutical company,will hold its Annual General Meeting in London this morning. Michael Gatenby, the Company's Chairman, will make the following comments: "In our 2006 preliminary results we noted that the phasing of profit in 2007would be affected by the timing of production transfers of recently acquiredbrands. Since then we have had to switch the supplier of the Atarax activeingredient following a fire at the previous supplier. Overall demand for ourproducts is satisfactory. However temporary supply shortfalls will adverselyaffect our first half results. The steps taken to address these issues, andfurther management action, is expected to restore profitability in the secondhalf to deliver a full year's trading result in excess of last year's. "Discussions with potential partners for the next stages of development and thenthe marketing of Posidorm are on-going and, pending their outcome, we areincurring no further development costs. The status of Isprelor remains thatPhase III trials have been completed, the results are expected shortly andpartnership discussions are on-going. "I am pleased to report that following the recent acquisition of the marketingrights to Forceval in China the initial shipments of the product have beendespatched." 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