ADVANZ PHARMA Corp. Limited (TSX:ADVZ) announced that it has received preliminary approaches from, and is in initial discussions with, third parties who have indicated that they are interested in acquiring some or all of the shares in ADVANZ. These discussions are at a very preliminary stage and no formal offers have been put forward. The board of directors (the 'Board') believes in the strong prospects of the Company and the progress that has been made in executing its strategy. However, in light of the interest received, it is also of the view that it would be in the best interests of all shareholders to explore the Company's strategic options and engage in further discussions with third parties. Therefore the Company announces that it has commenced a process to evaluate these approaches from third parties and notes that, in line with regulatory requirements in the UK, discussions relating to any sale of the Company as a whole or in part will be conducted under the framework of a 'formal sale process' in accordance with the Code. The Board has appointed Jefferies International Limited ('Jefferies') as its financial adviser.