Share Name Share Symbol Market Type Share ISIN Share Description
Alliance Pharma Plc LSE:APH London Ordinary Share GB0031030819 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.40 0.64% 62.60 62.70 63.20 63.20 62.00 63.00 1,631,641 16:35:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 163.2 18.2 1.4 45.7 338

Alliance Pharma Share Discussion Threads

Showing 2376 to 2399 of 2425 messages
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Very nervous market, but I think that this is well oversold imo, so have topped up with another 4K. The outlook for 2023 looks OK and they expect sales to recover.
More punters (aka gambling addicts) being caught out by the aim casino
Could be a lot of reasons, impossible to know from the outside. How key is he?
wad collector
Oh dear, disappearing?
Ouch, the Q4 update is being read as a profit warning this morning. Though with an estimated pretax of £30m for the year, just below the 2019 figures, it is more of an order warning than a profit warning.

Or is the drop because of the simultaneous announcement?
Management update

Alliance Pharma plc (AIM: APH), the international healthcare group, announces that Peter Butterfield, Chief Executive Officer, is taking time away from the business for personal reasons. He is expected to return during January 2023.

Andrew Franklin, Chief Financial Officer, has assumed Peter's CEO responsibilities, in line with the Group's established resilience plans, with support from the Head of Finance and the wider leadership team.

wad collector
Hello All,

Just taking a look after seeing Chelverton mentioned they were adding in their September update.

The big red flag looks to be the price they paid for the menopause product, $110m and sales are sinking and they are having to spend hard to reboot the top line. Is it a patented product which has a moat? Looks a clanger on first read.


simon gordon
Bought RENE (LSE) excellent ground breaking data
Deserves to be taken over.
I don't get it's mcap , far too high .. good stocks out there like CURY (LSE) mcap 700m , revenues 10.1 billion , dividend yields 8% , share buy back 75m , APH not near any of those numbers but mcap 350m ??
wba1 - Very good post. But to me the case stinks.
Are they going jail
Just a few points;

That APH acquires niche medicines in no way precludes it selling on rights and no court would see that as unusual, especially when a company has done so on other occasions. It is perfectly normal commercial activity. The onus would be on the CMA to show any other motive with evidence.

Either the entire board are complicit in a cover up or there are no side agreements which can be evidenced regarding the disposal and pricing of the drug. If the former then the problem is much worse than we think. If the latter then the CMA case is built on straw.

It really is worth looking at the L&G/Prosser case. In essence the FSA found mis-selling of financial products but based that on no more than rumour and similar (evidenced) cases in the industry. It was that lack of solid evidence specific to the case which caused the hugely embarrassing defeat for the FSA. This is a similar situation unless the board are misleading us.

I agree that the conflation of on course for full year forecast and timing of some restocking orders is a concern, although some assurance comes from the comment about orders received in July.

I think this is one which will affect the share price for the next 12-18 months, but some recovery is likely if full year forecasts are delivered.

Ouch, the dividend may be up , but the market is viewing the reduced EPS with the critical eye of the moment closing at a 2 yr low.
The "On Course to meet FY Expectations " doesn't cut the mustard when suffixed with "noting that the timing of certain orders in Q4 is dependent on the rate of recovery in those markets."

Bit more clarity about the legal case;

The Group believes that it has a strong case and has appealed the CMA's decision, and the proposed fine of GBP7.9m, with its appeal now fixed to be heard at the Competition Appeal Tribunal from 5th June 2023.

Despite its Appeal, the Directors believe that, as a result of the Infringement Decision, a provision of GBP7.9m should be recorded at 30 June 2022 (31 December 2021: GBP7.9m).

This reflects the amount of the proposed fine communicated by the CMA, and therefore, notwithstanding the Directors' belief as to the merits of the grounds on which it is appealing the CMA decision, the Directors consider this to be the appropriate position given that, in the event that the Group's appeal proved to be unsuccessful, the ultimate level of the fine cannot be greater than this. In addition, in the event the Group's appeal were to prove to be unsuccessful, the Directors consider that there are strong grounds upon which the amount of the fine could be reduced. However, as this is a matter which cannot be predicted with certainty at this time the Directors believe that the most appropriate course of action is to include the maximum potential amount of the fine.

If the appeal is unsuccessful, the Group may also be liable for a proportion of the legal costs of the CMA relating to the appeal. The Group has not recorded a provision in relation to these potential litigation costs as their amount cannot be reliably estimated.

wad collector
Interims tomorrow.
wad collector
I reckon the appeal court will judge against APH because APH will have
to explain the sale of a niche medicine to an 'unscrupulous' outfit whilst
APH specializes in acquiring niche medicines,collects niche-medines for
its portfolio of niche-medicines.


I think it is very difficult to judge this situation from outside the Boardroom doors, we are left guessing.
If worst comes to worst, how valuable is the CEO?
I have no idea .

wad collector
Thanks for the todays posts. My only thoughts were whether the CMA would have been better to go after CEO and directors in the first place as opposed to Alliance
wad collector;
I think your analysis is sound, but I expect this to progress to the Appeal Court if the CAT appeal is unsuccessful, although that would need to be on a point of law. In the FSA/L&G/Prosser case it was the judges in the High Court who applied a proper judicial requirement for solid evidence to throw out the case and criticise the FSA, so I am optimistic that the specialist judges in the CAT will apply similar standards.
In terms of company value it is difficult to see why this is having such an impact. Underlying performance seems to be robust (and we will be even clearer shortly with the results) and the great thing about APH is free cash flow, which is exceptional. I would be more concerned about the Chinese exposure than this case in terms of value and, even there, regard it as manageable given the broad product and geographic base. As for KPMG; it is legitimate for there to be a difference between an auditor and a company in these specific circumstances. That is much more worrying when the reasons are opaque. I am sure you are right about the market being uncomfortable with all the noise around this issue but, at some point, it will clear. But I can imagine this stretching into 2024, especially as the CMA are attemting to impose exemplary punishments for refusing to admit guilt. It all smells more like the US legal system with the innocent forced to plead guilty to avoid the death sentence.

The massive price rise in buccal prochlorperazine to the NHS was outrageous ,it suddenly went up about 700% for a few yrs and this year has gone back down by the same factor.
The CMA press release in May19 damned Alliance as conspiring to pay the competitors through its distributor Focus who paid a share to the competitors between 2013 and 2018 , fining APH £7.7M.
That appeared to be the end of the story apart from the appeal against that fine which will be heard early next summer. So the Disqualification Order trial will only be heard if the appeal is unsuccessful and it includes the CEO and director John Dawson .Though the latter resigned in 2019 from APH when that story surfaced.
If the APH statement is correct and

" Alliance out-licensed prochlorperazine to a distributor in 2013 in return for an agreed fixed transfer price. Since that time Alliance has had no involvement or control over, and did not benefit from, the in-market pricing of the product, which is entirely managed by the distributor."

then the case should be thrown out, but I guess it depends on how the CMA views the independence of the distributor company and whether the agreement was legal.
So it will hang over APH for another year, and possibly result in disqualifications of CEO and another ex-director as well as the fine.
APH also changed their auditor a month ago as KPMG were not happy with the way the fine was accounted for last year, that doesn't look good either. No-one here commented on it.
The market clearly doesn't like it.
So if you are confident that the company is innocent then it is a good buying opportunity.....

wad collector
It looks as if the regulator is attempting intimidation in revenge for APH challenging them. I trust APH will take this all the way and that Butterfield will seek damages from them if and when APH win the case. It is an almost carbon copy of the FSA tactics against L&G and Prosser years back, when the FSA were exposed as utterly incompetent and prepared to sanction companies with no evidence of wrongdoing.
Results due on 20th Sept - see RNS today
CURY (LSE) another all ticked box stock .. revenue growth 10 per to 10.1 billion, profit 186 million, dividend yields 7 percentage , share buy back allocated 75 millions pounds....
Kicking myself for not buying more earlier this a.m.
Expect a bit of a rebound tomorrow and or Monday.
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