Speciality pharmaceutical company Alliance Pharma has agreed a deal to purchase Cambridge Laboratories in the UK and Ireland for between £14.3m and £16.4m.
Included in the acquisition are 18 prescription products across a range of therapeutic areas. These include ImmuCyst, an immunotherapy for superficial bladder cancer; gelclair, an oral gel for the management of oral mucositis caused by chemotherapy and radiotherapy; and procarbazine, a treatment of Hodgkin’s Lymphoma as part of chemotherapy treatment.
Alliance expects the deal to significantly increase its earnings for this financial year.
Cambridge Laboratory’s oncology products represent approximately 40% of the portfolio by sales in 2009 and have seen an increase in sales of around 18% per annum over the past three years. Alliance intends to keep in place the specialist sales force that is currently promoting these products.
Under the terms of the acquisition, the Cambridge Laboratory offices in Dublin and Newcastle will transfer to Alliance, together with around 30 staff.
Alliance currently proposes to merge the support functions with those in its existing offices in Chippenham, Wiltshire, resulting in approximately 25 positions at risk of redundancy. The company will be entering into a period of consultation with the affected employees in connection with the potential cuts.