14th May 2008 07:00
Sinclair Pharma plc Interim Management Statement
14th May 2008, Godalming, UK: Sinclair Pharma plc ("Sinclair": SPH:L), the international specialty pharmaceutical company, today issues its Interim Management Statement ("IMS").
Operational Highlights
In the period covered by this statement:
* Six products were launched in three markets by Sinclair's own operations, including Spain, Portugal and Italy. * Three products were launched by Sinclair's partners: Atopiclair in Portugal; Decapinol in Norway; and Xclair in Benelux. * Nine new distribution agreements have been signed covering eight markets: Italy, Turkey, Taiwan, Jordan, Greece, Cyprus, Israel and Norway. * Throughout the period, Sinclair has integrated products acquired from Syrio and Derma Omnium at the end of 2007 into its existing portfolio. This covers a range of dermo-cosmetic and skin pigmentation products. * Sinclair continues to work with Orapharma to launch Decapinol Rinse in the US. * EU registration of Aloclair Plus as a Class 2 medical device providing stronger claims structure to enhance marketability. * New clinical trials of Atopiclair, Sebclair and Xclair accepted for publication. * European patent granted for Papulex anti-acne product.
Financial outlook
* Financial performance since the half year is in line with the board's expectations and the board remains confident about the outlook for the full year based on the strong visibility of revenues for the remaining period to the year ending 30 June 2008. * Additional debt facilities of ¢â€š¬5.5m have been raised to cover the cost of the Syrio and Derma Omnium businesses plus associated costs and working capital needs and the board is confident that there is sufficient headroom to meet the Sinclair's present needs.
Dr Michael Flynn, CEO of Sinclair Pharma, said:
"We clearly see momentum gathering within the business and a growth in our revenues. With substantial revenues anticipated in the second half of the financial year we are in an excellent position for continued growth."
-ends -
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 1483 410 600
Dr Michael Flynn, CEO
Jerry Randall, CFO
Mariyam Rawat, Communications & Investor relations [email protected]
Capital MS&L
Mary Clark, Anna Mitchell Tel +44 (0)20 7307 5340
Notes to Editors:
About Sinclair Pharma Plc www.sinclairpharma.com
Sinclair Pharma plc is an international specialty pharmaceutical company. It has a growing sales and marketing operation that is already present in France, Italy, UK, Spain and Portugal, and a complementary marketing partner network that spans more than 80 countries.
Sinclair has proven expertise in acquiring or developing commercially attractive and undervalued products, registering these products and bringing them to market within a short timeframe. Sinclair focuses on niche therapeutic areas and its current portfolio includes products for dermatological conditions and oral health.
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward-looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward-looking statements due to a variety of factors.
vendorRelated Shares:
Sinclair Pharma