www.alliancepharma.co.uk
Alliance Pharma plc is a United Kingdom-based pharmaceutical company. The Company is engaged in the development, marketing and distribution of pharmaceutical products. Its brands include Nu-Seals, Forceval, Hydromol, Deltacortril, Symmetrel, Syntocinon, Naseptin, Syntometrine, Synacthen and Slow-K.
Alliance Pharma completes transfer of Xenazine and Nitoman distribution agreement
Alliance Pharma (AIM: APH) told investors that it has completed the transfer of a distribution agreement with Biovail Laboratories for the tetrabenazine drug, part of the recently acquired Cambridge Laboratories portfolio. Under the terms of the acquisition, completed in February, the product’s transfer was deferred subject to the successful transfer of the distribution deal.
The tetrabenazine drug, marketed under the Xenazine and Nitoman brand names, is approved for use in the United Kingdom and the Republic of Ireland in connection with chorea associated with Huntington's Disease, tardive dyskinesia and certain other indications. A chorea is an abnormal involuntary movement disorder.
The benefit of the distribution agreement was been transferred to Alliance on 16 March 2010, and consequently, £1.5m of the deferred consideration will now be paid to Cambridge Laboratories as the vendors.
The new distribution agreement also conditionally provides for Alliance to be appointed as distributor of new formulations of tetrabenazine that are developed, including, potentially, a modified-release formulation that is currently in development for Tourette's Syndrome in 5-16 year old children.
Through the Cambridge Laboratories acquisition, Alliance gained a portfolio of 18 prescription products across a broad range of therapeutic areas include oncology, toxicology and others. When the deal was completed in February, the company said it expects the deal to be significantly earnings enhancing in the current financial year.
In commercial terms, Cambridge’s key products are primarily in the oncology area. The ImmuCyst product is an immunotherapy for bladder cancer, Procarbazine forms part of a chemotherapy treatment for Hodgkin's Lymphoma and its Gelclair product is an oral gel used in the management of oral mucositis, which is a side-effect caused by chemotherapy and radiotherapy. The portfolio also includes a toxicology product which is contracted for a UK government stockpile, and is replaced on a 2-3 year cycle. Cambridge’s existing £5.6m contract runs from October 2009 to January 2011.
