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Alliance Pharma gains on positive phase III data for Isprelor

Alliance Pharma shares gained on positive news of phase III trial results for labour-inducing drug Isprelor

Shares in speciality UK-based pharmaceutical company Alliance Pharma gained GBP 0.01/2 to reach GBP 8.25 on positive news of phase III trial results for Isprelor (misoprostol), a labour-inducing drug.

Alliance said the tests showed that Isprelor when compared with the current treatment standard, dinoprostone, the two drugs were similarly effective and there was no statistical difference between Isprelor and dinoprostone in the ability to produce a vaginal delivery within 24 hours of the treatment.

CEO John Dawson said: "The positive results from this trial will form an important part of our ongoing out-licensing negotiations for Isprelor."

The positive news balances out the negative H1 FY07 sales results which Alliance expects to be in the region of GBP 7.8m, flat on H1 FY06. Without the supply shortfalls it was estimated that sales would have been around GBP 1m higher.

Allance added that it a loss of GBP 0.7m for H1 FY07 before exceptional reorganisation costs of GBP 0.2m arising from the action taken to improve profitability which was announced on 13 June 2007.

This action, which will produce annual cost savings of more than £1 million, marks a strategic shift in which the Company will put more emphasis on its trading portfolio. This shift will result in improved profitability and cash generation. Benefits from the action taken will start to flow in the second half to return the company to profit in the full year.

The company's interim results will be announced on 12 September 2007.

23rd July 2007

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