Alliance Pharma PLC Settlement Agreement (6224E)

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

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November 05, 2015 02:00 ET (07:00 GMT)