Nigel Wray boosts his stake in Alliance Pharma to 12pc
NIGEL Wray has increased his stake in Alliance Pharma to 12 per cent through the purchase of 1.9m shares.
Wray, the second largest shareholder in the pharmaceutical company with 27.9m shares, has been steadily increasing his stake, buying 0.75m shares in May and a further 0.8m last month. He has increased his percentage share from 11.08 per cent to 11.26 to his current level of 12.03, but the company’s chief executive John Dawson remains the largest shareholder with 46.6m shares, 20.17 per cent of the share capital.
Alliance Pharma purchased Cambridge Laboratories in February and the deal, which adds 18 new prescription products to its portfolio, is expected to significantly enhance profits in this financial year. Figures released in March for 2009 results showed a 44 per cent increase in sales to £31.2m and the shares have risen from 25p to 32.75p in six months.