Aim-listed pharma firm Alliance will increase the availability of its pregnancy nausea drug around Europe after extending a distribution deal.
The treatment, Diclectin, will now be available in France, Germany, Italy, and six other European Union countries, as well as the UK. Shares in the company were up by almost five per cent at the close of play yesterday following the announcement, extending their near 20 per cent gains over the year-to-date.
Alliance acquired UK rights to Diclectin in January 2015 from Canadian owner Duchesnay. Alliance then increased its European distribution footprint with the acquisition of Sinclair Healthcare at the end of last year.
Alliance plans to launch Diclectin in the UK in the second half of 2017 with wider European launches scheduled for around a year later.
According to Alliance the nine new European territories see an average of 2.5m pregnancies each year with approximately 70 per cent of these women suffering nausea and vomiting.
“We are delighted to build on our existing partnership with Duchesnay by acquiring the licensing and distribution rights to Diclectin in a further nine EU countries,” said John Dawson, Alliance Pharma’s chief executive.
“This new agreement highlights the potential of our strengthened European distribution base following the acquisition last year of the Sinclair Healthcare Products business.”
Diclectin has been used for over 30 years in Canada and prescribed for more than 30m women.