11th Nov 2008 07:00
Sinclair Pharma plc Interim Management Statement
11th November 2008, Godalming, UK: Sinclair Pharma plc ("Sinclair": SPH:L), the international specialty pharmaceutical company, today issues its Interim Management Statement ("IMS"), relating to the period from 1 July 2008 to the publication of this IMS ("the period").
Highlights for the period:
* Trading since 30 June 2008 is in line with Board expectations * Launch of Decapinol rinse in the US market confirmed for next financial year * Continued expansion into the emerging markets with a distribution agreement in Pakistan1 with Ismara to launch a selection of 19 Sinclair products, starting with the B-Lift and B-Derm range, Sinclair's new generation Dermo-cosmetic products
Trading update
In the period covered by this statement:
* Seven new distribution agreements have been signed covering 11 products in
six countries, including the newly commercialised pipeline products
Herpclair, T-go, Sinlice,
Decapinol Perio-Applicator and Perio-Vials
* Six product launches were achieved in four countries covering Spain, Italy, Tunisia and UK * Registrations were submitted in the EU for Decapinol Perio-vials and Dermachronic foam * Dr Ross Macdonald, an experienced business development executive, was recruited as Vice President of Business Development for North America & South Pacific
Financial outlook
* Financial performance since year-end on 30 June 2008 is in line with Board expectations * As previously announced on 31 October, the Company has arranged further funding and facilities to meet its requirements for 2008/9
Dr Michael Flynn, CEO of Sinclair Pharma commented:
"During the first quarter Sinclair has continued to build on the progress made in FY2008. In this period we have secured the first agreements for the distribution of our new pipeline products T-Go, Sinlice, Herpclair and Decapinol Perio-Applicator.
"Ouragreement with Ismara continues Sinclair's expansion into emerging markets building on our recent agreement with Wockhardt in India and reflects growing momentum in our Dermo-cosmetics portfolio, which we believe will generate significant revenues this year."
"With the continued global roll out of our portfolio of innovative products, combined with sustained marketing of our flagship products, we are no longer reliant on two or three products or markets to generate the core of our revenues. Our clear focus on commercialisation of existing and new products, combined with geographical expansion, will enable us to drive further revenue growth."
Sinclair also announced that the Company's Annual Report and Accounts have been published and are available at its investor relations website www.sinclairpharmair.com or directly from the Company. The AGM will be held on 8th December 2008 at 10.00am, at Simmons and Simmons, City Point, One Ropemaker Street, London, EC2Y 9SS.
-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:
1) Pakistan is a country currently experiencing rapid growth of its economy with the world's sixth largest growth rate. Through this five year agreement, Sinclair and Ismara aim to become one of the leading brands in the high end Dermo-cosmetics market with investment in product promotion. The B.lift and B.derm brands will initially be supported by a high profile launch event in Karachi accompanied by media support in key women's magazines. The products will also be promoted to dermatologists, aesthetic doctors, cosmetologists, laser centers and selected medicated beauty salons, via Ismara's strong sales force of 200 medical representatives and 25 area managers, giving complete coverage in Karachi, Lahore and Islamabad.
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.
AboutIsmara andPharmatec: www.pharmatec.com
Ismara is one of the leading pharma companies in Pakistan and a sister company of Pharmatec. Pharmatec Pakistan (Private) Limited is one of the most innovative and rapidly expanding manufacturing and marketing companies in the healthcare sector in Pakistan. Pharmatec currently sells Aloclair for Sinclair in Pakistan.
Product Information:
Sinlice: This product is designed to meet a market need for a novel, safe and effective treatment for head lice. The OTC market for the five main EU territories and the US is worth an estimated ‚£120m. Sinlice uses proprietary barrier technology to coat and suffocate head lice and their eggs, killing them and making them easy to remove. Sinclair applied its expertise in topical and barrier formulations to develop Sinlice, entering a new therapeutic area for the company. The product can be sold without a prescription in the EU since its registration as a medical device in December 2007.
Herpclair: This is a proprietary topical treatment aimed at rapidly reducing the symptoms of herpes simplex cold sores and accelerating the healing process. The product is registered as Medical Device Class IIa and can be sold without a prescription in the EU. The OTC market for herpes simplex products in the UK, France and Germany is valued at ‚£83m. In Spain and Italy, products for cold sores are commonly prescribed, opening up a new sector of the market for Sinclair in these regions. Herpclair is an important addition to the company's product range and its commercialisation will contribute to our growing presence in the EU market. Herpclair was registered in the EU as a medical device in January 2008.
T-Go: Sinclair announced EU registration of its pipeline product for symptom relief for teething infants in December 2007. Sinclair is now free to sell the product in all EU territories. T-Go has been designed to meet a market need for symptom relief during teething, without the use of topical pharmacological agents in infants. T-Go builds on the proven, patented technology of Sinclair's existing mouth ulcer product, Aloclair. The market is currently dominated by gels that contain the topical anaesthetic lignocaine/lidocaine, or the analgesic choline salicylate. T-Go is free from these pharmacological agents. The formulation includes hyaluronic acid, which has demonstrated efficacy in maintaining the integrity of the oral mucosa (mouth lining) and providing barrier-based pain relieving qualities. T-Go is registered as a Class IIa medical device and can therefore be sold without a prescription in the EU.
Decapinol Perio-Applicator and Perio-vialsarepart of the "Decapinol Suite", an innovative system that includes two different options for treating local periodontal pockets. The first step is professional intervention with Decapinol Perio, composed of a unique ergonomically designed applicator that is used with Perio-Vials which contain delmopinol Hcl solution. The second step is follow-up domiciliary care with Decapinol gel. These two formulations can be used along the margins of the sub and supra-gingival and into interdental spaces. Decapinol suite's key ingredient is delmopinol Hcl; delmopinol Hcl has a novel mechanism of action, which is to reduce the adherence of bacterial plaque to the teeth and gingiva, and also to other plaque. Decapinol gel contains other additional ingredients to improve overall gum health and to help relieve pain followed by treatment.
"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.
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