11th Dec 2009 12:27
Sinclair Pharma completes Acquisition of Flammazine and Flammacerium from Solvay
11 December 2009, Godalming, UK: Sinclair Pharma plc (the "Company" or "Sinclair": SPH:L), the international specialty pharma company, is pleased to announce that it has completed the acquisition of the Flammazine and Flammacerium products from Solvay for a total consideration of EUR17.5 million.
The products, both topical creams for the prevention and treatment of infections in burn wounds, are well-established brands across Europe generating global annual revenues of over GBP9 million. Sinclair plans to grow these revenues via increased promotion, product development and new indications.
Flammazine and Flammacerium are currently sold in over 45 countries worldwide and are approved for use throughout Europe and various emerging markets. Sinclair now owns the worldwide commercial rights for the products.
Chris Spooner, incoming Chief Executive of Sinclair Pharma, said:
"These products are well known brands that strengthen Sinclair's existing dermatology business. They provide Sinclair with a source of stable income as well as the potential to seek additional value from other potential applications and line extensions. We have a solid base from which to grow our business and increase shareholder value."
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 1483 410 600
Chris Spooner
Dr Michael Flynn
Singer Capital Markets Ltd Tel: +44 (0)20 3205 7500
Shaun Dobson
Claes Spång
Capital MS&L Tel +44 (0)20 7307 5340
Mary Clark
Anna Mitchell
Notes to Editors:
About Sinclair Pharma Plc www.sinclairpharma.com
Sinclair Pharma plc is an international specialty pharmaceutical company providing solutions to treat dermatological, oral care and gynaecological diseases through advanced surface technology and innovative delivery systems. It has a growing sales and marketing operation that is already present in France, Italy, and Spain l, and a complementary marketing partner network that spans more than 90 countries.
"Safe Harbour" 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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