Alliance Pharma’s second largest shareholder Nigel Wray buys 1.9 mn shares and ups stake to 12.03%

Alliance Pharma’s (LON:APH) second largest shareholder, Nigel Wray, has further increased his stake in the company, buying 1.9 million shares. With 27.9 million shares, approximately 12.03% of the issued share capital, Wray remains the company’s second largest shareholder behind Chief Executive John Dawson - who controls 46.6 million shares, or 20.17%.

Wray has been topping up his shareholding in the company over recent months, buying 0.75 million shares in May (for 11.08%) and buying a further 0.8 million in June (for 11.26%)

Alliance Pharma in February completed the acquisition of Cambridge Laboratories. The deal, which added 18 new prescription products to Alliance’s portfolio, is expected to be significantly earnings enhancing in the current financial year. The Buccastem and Timodine acquisition is also set to deliver full year benefits this year.
In late March, Alliance published its results from 2009, in which the pharmaceutical company increased sales by 44% to £31.2 million compared with 21.8 million in the previous financial year. The company achieved a three-fold increase in pre-tax profit before exceptionals to £8.6 million as well as in adjusted earnings per share (EPS) to 3.55 pence.

Shares in the company improved from 25 pence to the current 32.75 pence over the past six months.