Specialty pharmaceutical firm Alliance Pharma has completed the acquisition of pesticide-free head lice treatment Vamousse, sending its shares to their highest-ever level.
The Chippenham-based firm, which buys underperforming drugs brands and realises their potential through investment, said the deal – announced on December 4 – had been approved by shareholders in Vamousse’s parent company, US natural treatment firm Tyra Tech. 
The news pushed up Alliance Pharma’s share price to 66.5p, ending the year at its highest ever level. The firm has been quoted on the London Stock Exchange’s AIM market since 2003.
It is paying $13m (£9.6m) for Vamousse, sales of which have grown significantly since its launch in the US and UK in 2014 to reach $6.6m last year with a gross profit of $4.6m. Around 83% of its sales are in the US and 17% in the UK.
Alliance plans to make use of its EU affiliates and extensive distribution network to drive further growth. The acquisition price includes a deferred payment of up to $4.5m to Tyra Tech.
Alliance has also announced the appointment of Amanda Sicvol as country manager for its newly created US affiliate. It said Amanda had been instrumental in the commercial success of Vamousse, having worked for Tyra Tech for four years.
Alliance Pharma chief executive officer John Dawson said: “The completion of this acquisition provides Alliance a third international star brand with best-in-class technology. There is also real potential for further growth through our substantial global network of distributors. We are delighted to welcome Amanda to Alliance to establish our presence in the US, the largest consumer healthcare market in the world.”
Alliance, which has sales in more than 100 countries worldwide, said the acquisition of Vamousse, like that of anaesthetic gel Ametop which it acquired in the previous week for $7.5m, would immediately boost its earnings.
