Alliance Pharma plc acquires Dermapharm Ltd and four brands

"Rapid Prototyping" zur schnellen

10-Feb-2004

Alliance Pharma plc, the emerging speciality pharmaceutical company, announced that it has acquired Dermapharm Ltd together with four dermatology brands for a total cash consideration of ?875,000, wholly funded by bank debt from Bank of Scotland. Dermapharm Ltd is a privately owned UK pharmaceuticals company, run by Mr Tim Lovett and specialising in dermatological products.

The deal gives Alliance the marketing, distribution and IP rights to the four brands but excludes the infrastructure, other brands, other assets and staff of Dermapharm Ltd, which will be divested into a new company called Dermapharm Skincare Ltd. In the 10 month period to October 2003, Dermapharm Ltd had sales of ?321,156 and achieved breakeven profits. The net asset value of the assets being acquired by Alliance is ?124,400.

The four brands are 'Occlusal', used in primary care as a treatment for warts and 'Meted', 'Pentrax' and 'Acnisal' which are specialist dermatology products used in the treatment of scalp conditions and acne. In the year to December 2003, the four brands had a turnover of ?360,000 with a historical growth rate over 2002 of 13.3 per cent per annum. They will be integrated into Alliance's existing range, bringing the total number of branded pharmaceutical products in its portfolio to 27. Mr Tim Lovett has agreed to act as a consultant to Alliance for a period of one year in order to assist with the ongoing development of the brands.

John Dawson, CEO of Alliance Pharma commented:

"These are good brands with excellent growth potential and their transfer to Alliance provides them with greater marketing coverage. The brands add critical mass to our existing portfolio of three specialist dermatology products and we expect further activity in the dermatology arena resulting from our recently signed, in-licensing agreement with Barrier Therapeutics Inc, which specialises in dermatology R&D."

https://www.bionity.com/en/news/35085/alliance-pharma-plc-acquires-dermapharm-ltd-and-four-brands.html