Alliance to acquire Hydromol dermatological products from Ferndale

By Lisa Kerner

Erie, Pa., Feb. 9 - Alliance Pharma plc said it has agreed to acquire the Hydromol line of prescription dermatological products for eczema and other skin conditions from Ferndale Pharmaceuticals Ltd. for £3.25 million. The Bank of Scotland will fund the acquisition.

The Hydromol products, including ointments, creams and bath oils, will be sold through Alliance's existing sales force and network of international distributors, according to a company news release.

The Hydromol range, which grew at 31% in 2005, recorded pro-forma sales of £0.95 million in the year to Dec. 31, 2005 and gross profit of £0.57 million.

Alliance's current dermatology portfolio includes Aquadrate, Alphaderm, Occlusal, Pentrax, Meted and Acnisal.

"This is the ninth acquisition that we have made in the past eight years and it will significantly strengthen our dermatology franchise," chief executive John Dawson said in the release.

"The cash flow from the acquisition will help fund trials into our innovative treatment for sleep disorders, Posidorm, for which we are currently in early stage out-licensing discussions."

Alliance is an emerging speciality pharmaceutical company based in Chippenham, Wiltshire, U.K.

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