Alliance Pharma PLC Settlement Agreement (6224E)
November 05 2015 - 02:00AM
UK Regulatory
TIDMAPH
RNS Number : 6224E
Alliance Pharma PLC
05 November 2015
For immediate release 5 November 2015
ALLIANCE PHARMA PLC
("Alliance" or the "Company")
Settlement Agreement
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical
company, has agreed compensation from Sanofi Pasteur following the
suspension of manufacturing since mid-2012 of the bladder cancer
treatment ImmuCyst(TM). Alliance will receive GBP6.7m in cash,
inclusive of costs, in full and final settlement of Alliance's
claims.
Alliance will continue to distribute ImmuCyst in the UK and
looks forward to bringing the product back into supply before the
end of the year. The Company expects that future stocks of ImmuCyst
will be constrained.
The proceeds of the settlement agreement will be used to reduce
Alliance's net bank debt.
For further information:
Alliance Pharma plc + 44 (0) 1249 466966
John Dawson, Chief Executive
Buchanan + 44 (0) 20 7466 5000
Mark Court / Sophie Cowles / Jane
Glover
Numis Securities Limited + 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade /
Freddie Barnfield
Corporate Broking: David Poutney
Notes to editors:
About Alliance
Alliance, founded in 1998, is an AIM listed speciality
pharmaceutical company based in Chippenham, Wiltshire, UK. The
Company has a strong track record of acquiring the rights to
established niche products and owns or licenses the rights to more
than 60 pharmaceutical products and continues to explore
opportunities to expand the range.
Alliance joined the AIM market of the London Stock Exchange in
December 2003 and trades under the symbol APH.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGREANFLEDLSFFF
(END) Dow Jones Newswires
November 05, 2015 02:00 ET (07:00 GMT)
Alliance Pharma (LSE:APH)
Historical Stock Chart
From Feb 2024 to Mar 2024
Alliance Pharma (LSE:APH)
Historical Stock Chart
From Mar 2023 to Mar 2024