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Alliance Pharma acquires Biogix for $110m
StockMarketWire.com
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Healthcare group Alliance Pharma said it had completed the acquisition of Biogix, a US-based consumer healthcare company, for US$110.0 million.
The Biogix acquisition would bring into the group a 'fast-growing brand, Amberen, with significant near-term growth potential ... and increased scale to our business in the US, the world's largest OTC market,' the company said.
Amberen, for the relief of menopause symptoms, was a 'strong brand in a new market segment for Alliance, within the fast-growing vitamin, mineral, supplement market,' it added.
'The board expects the Acquisition to be earnings enhancing in 2021, after modest integration costs, and significantly earnings enhancing from 2022 onwards, with further strategic benefits anticipated in future years.'
At 9:05am: (LON:APH) Alliance Pharma PLC share price was 0p at 73.1p
Story provided by StockMarketWire.com
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