AGM Statement --
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, will hold its Annual General Meeting in London this morning.
Michael Gatenby, the Company’s Chairman, will make the following comments:
“I am pleased to report that trading in the first four months of 2009 has been ahead of our expectations and significantly ahead of last year. In particular, revenue from Deltacortril continues to grow, following improvements in production capacity.
“Deltacortril, an enteric coated prednisolone tablet, is used in the treatment of a wide range of inflammatory and auto-immune conditions. The prednisolone market may become more competitive over time, but we expect profits this year from Deltacortril to be significantly higher than last year.
“We are also pleased to report that demand for our other products is generally in line with expectations, with Hydromol continuing to grow strongly.
“We look forward to the remainder of 2009 with confidence. Cash flow continues to be strong and this should enable Alliance to pay a maiden dividend within the year as previously indicated.”
About Alliance Pharma
Alliance Pharma, 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 brands and owns, or licenses, the rights to 35 branded pharmaceutical products and continues to explore opportunities to expand the range.
Alliance Pharma's products are prescribed in the treatment of a wide range of conditions and include brands used in the treatment of dermatological conditions, in childbirth, in the prevention of heart disease, in Parkinson's disease, in nutrition and in nasal infections. Alliance Pharma's sales are mainly prescription driven. Its products are distributed to hospitals directly and to pharmaceutical wholesalers, which service both hospital and retail pharmacies with their prescription requirements.
Alliance Pharma joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.