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Alliance Pharma plc Buys Novartis AG (NVS)'s Syntometrine for $11.5 Million


6/7/2013 9:12:21 AM

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Alliance Pharma plc(APH.L), a specialty pharmaceutical company, Thursday said that its unit Alliance Pharmaceuticals Limited has acquired all existing rights to Syntometrine, an obstetric drug used in the final stage of labour, from Novartis AG and Novartis Pharma AG for $11.5 million. Alliance already owns the UK rights to Syntometrine. The total sales of Syntometrine in the 12 months to March 2013 by Novartis Group in a lot of countries including Australia, South Africa, Malaysia and New Zealand were $3.2 million, and the gross margin generated was $2.8 million, Alliance said in a statement. Alliance expects to have annual distribution and operating costs of approximately 0.5 million pounds associated with these new territories.

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