Member Article

Alliance Pharmaceuticals spend £4.2m on AstraZeneca drugs brands

Wiltshire-based Alliance Pharmaceuticals Limited has acquired several drugs brands from AstraZeneca UK Limited for £4.2m.

The pharmaceuticals firm will take ownership of antimalarial brands sold in the UK and France, including PaludriveTM, AvloclorTM, SavarineTM from AstraZeneca.

Alliance expects the products to generate income of approximately £1.1m a year, before financing costs.

The initial consideration is being funded from existing cash and bank facilities, including a £2m drawdown from the Group’s £20m Revolving Credit Facility, and any deferred consideration will be funded from future cash generation.

At the same time as the acquisition, Alliance has appointed two Country Managers, Dr Phillippe Pasdelou and Lars Börger, who are responsible for European sales.

John Dawson, Alliance Pharma’s Chief Executive, said: “We are delighted to add these important antimalarial brands to the Alliance portfolio, and at the same time to have appointed such highly experienced executives as Philippe Pasdelou and Lars Börger to spearhead our expansion in mainland Europe.”

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This was posted in Bdaily's Members' News section by Tom Keighley .