15th Nov 2006 10:00
Sinclair Pharma PLC15 November 2006 SINCLAIR PHARMA PLC AGM STATEMENT Godalming, 15 November, 2006: At today's Annual General Meeting, the following comments will be made: "In the year to 30 June 2006, Sinclair made substantial progress in its goal ofbecoming a leading international specialty pharmaceutical company. During theyear, we expanded our sales and marketing operations through the acquisition ofCS Dermatologie ("CSD") and added a number of distribution partnerships. Wealso grew turnover by 67% to £11.6m (2005: £7.0m) and achieved organic growth ofour product sales of 58%. "Since the year end, Sinclair has made continued commercial, regulatory andfinancial progress with sales of Sinclair's products continuing to grow.AtopiclairTM has now been launched in Spain by Italfarmaco under the productname 'Dersura' and we announced in October that Intendis has concluded adistribution agreement for AtopiclairTM for eight major territories. "We can also announce today that distribution agreements for the followingproducts have been signed: Dormed will market XclairTM in Turkey and Farma GrupIlac Paz will market SebclairTM in Turkey. Rigel Pharma will now distributeAloclairTM Gel in Malaysia and Singapore. "In November, we received US Food and Drug Administration (FDA) marketingapproval for our product for seborrheic dermatitis, SebclairTM. This allows ourdistribution partners Chester Valley Pharmaceuticals to market this innovativeproduct on prescription in the USA. With positive clinical data and theclinical benefits of being steroid-free, we believe SebclairTM will find a readymarket both in the US and the EU, where it also has approval. "We announced following the preliminary results that Sinclair had acquiredAshbourne Pharmaceuticals Ltd, the UK sales and marketing company. This is afurther step towards Sinclair's goal of building our own sales forces in themain European territories. Integration of both Ashbourne and CSD is proceedingaccording to plan. "Reflecting our enlarged commercial presence in the key European markets andassociated investor interest in Europe, we are now seeking to move from AIM ontothe Official List of the London Stock Exchange and to seek a secondary listingon the Euronext market in Paris. Both listings will be through an introductionof shares and no new funds will be raised. "Sinclair has started the current financial year in strong shape and with goodmomentum in all aspects of the business. We continue to grow sales, launchproducts in new markets and make sound clinical progress. With a broadportfolio of on-market products supported by a strong pipeline of new products,we are optimistic about prospects for the full year." END Enquiries: Sinclair Pharma plcDr Michael Flynn, CEO Tel: (0)1483 410 600Jerry Randall, CFOZoe McDougall Tel: (0) 7973 792 520John Barrington-Carver Tel: (0) 7831 655 630 Financial DynamicsBen Atwell Tel: (0) 207 831 3113John Gilbert Sinclair Pharma plc Sinclair Pharma plc is an international specialty pharmaceutical company. Ithas a growing sales and marketing operation that is already present in France,Italy, the UK, Spain and Portugal, and a complementary marketing partner networkthat spans 60 countries. Sinclair has proven expertise in acquiring or developing commercially attractiveand undervalued products, registering these products and bringing them to marketwithin a short time frame. The company focuses on niche therapeutic areas andits current portfolio includes products for dermatological conditions and oralhealth. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sinclair Pharma