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Acquisition Timeline 06 Alliance has a strong track record of successful acquisitions and has considerable expertise in selecting acquisition targets, negotiating the acquisitions and integrating products.

O )ver 61 •roduci 0 } :s , A L 23 deal; 115 yea] ~7/ £7.4m Hydromol from Ferndale Pharmaceuticals Atarax, Deltacortril & how many tramadol can i take in one day Terra-cortril from Pfizer Syntometrine from Novartis Permitabs from Derma UK Dermamist from Caraderm Avloclor, hydrocodone at cost Paludrine & Savarine from AstraZeneca 8 products from Opus £12.8m 08 Questions and Answers with John Dawson, Chief Executive Officer How are you managing key risks in your business? The Board reviews, on a monthly basis, key risks and the actions being taken to mitigate those risks. For example, we have increased the size of our product portfolio to help mitigate reliance on a few key products. Our reliance on the majority of sales in the United Kingdom is being reduced by the appointment of our Country Managers in France and Germany to increase our European sales. This has already been achieved in 2012 as we are already selling anti-malarial products in France and francophone Africa. There was the risk that the shortage of credit that has affected many organisations would affect Alliance, as our business model is mainly acquisitive. We have maintained throughout the period a strong relationship with our banker from whom we obtained a further £10m revolving credit facility in January 2013. The supply side risk continues to be actively managed - for example we streamlined the supply chain this year by outsourcing hospital distribution and adopting a reduced wholesaler model.

In 2013 we will continue to develop and invest in the supply chain team How is price regulation likely to affect Alliance over the next few years? Sales of branded products in the UK are subject to the Pharmaceutical Price Regulation Scheme (PPRS), the latest version of which came into force at the start of 2009 and runs for five years. Negotiations have started for any amendments to the existing scheme from how many tramadol can i take in one day 2014. We maintain an involvement in industry affairs in order to influence these negotiations as far as is possibile Alliance completed two acquisitions in 2012. In August 2012 Alliance completed the acquisition of anti-malarial products from hydrocodone apap 7.5 650 tab indications AstraZeneca, This included sales in France and to francophone cheap tramadol buy xanax Africa, which opened new territories to Alliance, and provides critical mass for hydrea and hydrocodone our new operations in France. Our acquisition of Opus Group Holdings Limited is an acquisition of established products in the UK and Ireland that fits neatly with our existing dermatology and secondary care portfolios £m rf||V How do you promote your branded products? We use small dedicated sales teams to promote products in two areas of specialisation, dermatology and secondary care. Hydromol our lead dermatology brand continues to grow strongly, achieving 29% growth in hydrocodone 10/660 2012, as illustrated by the graph left. ImmuCyst was growing at 18% prior to the supply issues and Gelclair grew how many tramadol can i take in one day at 9% in 2012 to reach a £1m brand gWE WILL CONTINUES TO DEVELOP AND INVEST IN zTHE SUPPLY CHAINK How is Alliance managing international growth?



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