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For
immediate release
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23 May 2024
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ALLIANCE
PHARMA
("Alliance", "Company" or the
"Group")
Successful appeal of CMA decision
Alliance Pharma plc (AIM: APH), the
international healthcare group, today provides an update on the
appeal against the Competition and Markets Authority ("CMA")
decision regarding anti-competitive conduct in relation to four
companies.
The Competition Appeal Tribunal
("CAT") has issued its judgment on Alliance Pharmaceuticals Limited
& Others vs CMA setting aside the CMA's decision. We are
delighted that Alliance has been successful
in its appeal.
The judgment can be viewed at this
link: https://www.catribunal.org.uk/cases/143211222-advanz-pharma-corp
Further announcements will be made as
appropriate.
Background
On 23 May 2019 Alliance announced
that the CMA had issued a Statement of Objections to four
companies, including Alliance, alleging anti-competitive agreements
in relation to the sale of prescription prochlorperazine, a small,
out-licensed product in Alliance's pharmaceutical portfolio from
June 2013 until July 2018.
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=3618902&lang=en-GB&companycode=uk-aph&v=
On 3 February 2022 the CMA issued
its finding that all four companies had infringed competition law
and imposed fines including £7.9m for Alliance, which was provided
for in the 2021 accounts.
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4038435&lang=en-GB&companycode=uk-aph&v=
Alliance filed its appeal with the
CAT on 4 April 2022.
On 23 May 2024, the Tribunal handed
down its judgment setting aside the CMA's decision and finding that
there was no breach of competition law.
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE
REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER
ARTICLE 17 OF MAR.
For
further information:
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Alliance Pharma plc
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+ 44 (0)1249
466966
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Cora McCallum, Head of Investor
Relations & Corporate Communications
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+ 44
(0)1249 705168
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ir@allianceph.com
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Buchanan
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+ 44 (0)20 7466
5000
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Mark Court / Sophie Wills
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alliancepharma@buchanan.uk.com
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Deutsche Numis (Nominated Adviser and Joint
Broker)
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+ 44 (0)20 7260
1000
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Freddie Barnfield / Duncan Monteith
/ Sher Shah
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Investec Bank plc (Joint Broker)
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+ 44 (0)20 7597
5970
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Patrick Robb / Lydia
Zychowska
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About Alliance
Alliance Pharma plc (AIM: APH) is a
growing consumer healthcare company. Our purpose is to empower
people to make a positive difference to their health and wellbeing
by making our trusted and proven brands available around the
world.
We deliver organic growth through
investing in our priority brands and channels, in related
innovation, and through selective geographic expansion to increase
the reach of our brands. Periodically, we may look to enhance our
organic growth through selective, complementary
acquisitions.
Headquartered in the UK, the Group
employs around 285 people based in locations across Europe, North
America, and the Asia Pacific region. By outsourcing our
manufacturing and logistics we remain asset-light and focused on
maximising the value we can bring, both to our stakeholders and to
our brands.
For more information on Alliance,
please visit our website: www.alliancepharmaceuticals.com