- Alliance Pharma it continued to trade 'well,' amid continued growth from its International Star brands and a 'solid' performance from its local brands. The company also confirmed that it had not benefit from any price increases in prochlorperazine amid an ongoing probe by UK authorities into the sale of the prescription drug.

'Consequently we continue to generate strong free cash flow and, in the absence of further acquisitions, expect our adjusted net debt/EBITDA leverage ratio to reduce below 2.0 times during the second half of the year,' the company said.

In a separate statement, Alliance confirmed that it had not been involved in the pricing or distribution of prochlorperazine since 2013 and that it had not benefited from any price increases. This comes in the wake of the release of provisional findings following an investigation by the Competition and Markets Authority into the sale of prescription prochlorperazine.

'We will work closely with the CMA to resolve its provisional findings,' Alliance added.

At 9:17am: [LON:APH] Alliance Pharma PLC share price was -0.8p at 77.8p

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