Chippenham-based company Alliance Pharma has reached an agreement with Sinclair Pharma over compensation in connection with the sales shortfall of Kelo-stretch, acquired by Alliance in December 2015. A cash payment of £5m ($6.2m) will be made in two phases, £4m in 2017 and £1m in 2018, while Sinclair will also relinquish all US rights to Flammacerium. The cash element of the compensation will be used by the Company to reduce its current bank loans. The deal is expected to close within weeks, pending regulatory approval.
Chippenham-based company Alliance Pharma has reached an agreement with Sinclair Pharma over compensation in connection with the sales shortfall of Kelo-stretch, acquired by Alliance in December 2015. A cash payment of £5m ($6.2m) will be made in two phases, £4m in 2017 and £1m in 2018, while Sinclair will also relinquish all US rights to Flammacerium. The deal is expected to close within weeks, pending regulatory approval.