3rd Nov 2008 07:00
Sinclair Pharma plc Steve Harris to step down as Non-Executive Chairman
3 November2008, Godalming, UK: Sinclair Pharma plc ("Sinclair": SPH:L), the international specialty pharma company, today announces that after five years in the role, Steve Harris will be stepping down from the Board as Non-Executive Chairman at the end of the Company's AGM on 8 December 2008.
Steve Harris joined Sinclair as a Non-Executive Director in 2001 and progressed to the role of Non-Executive Chairman in 2003. He has overseen the evolution of Sinclair from a private UK company with a small presence in Italy into an international publicly traded company with its own sales and marketing presence in five European countries, a broad array of internationally registered products and a network of sales and marketing partners spanning 82 countries and which delivered its maiden full year profit in FY2008.
Steve Harris will be succeeded by current Senior Independent Director, Grahame Cook. Mr Cook joined the Board in July 2004.He has over 18 years' experience in investment banking, advising on a wide number of mergers and acquisitions and capital market transactions in the US and Europe.
He was previously Global CEO of West LB Panmure, and Managing Director of Capital Markets and on the Global Investment Banking Committee at UBS. He has advised on a number of transactions in the pharmaceuticals and biotechnology sectors across Europe and the US,including private equity investments, IPOs and secondary offerings. Mr Cook was a founder member of the LSE's TechMARK Advisory Committee,and holds an MA, double first, from Oxford University. He is currently a Non-Executive Director of Antisoma plc and Fulcrum Pharma plc.
Commenting, Dr Michael Flynn, CEO of Sinclair Pharma plc, said:
"Steve has been instrumental in guiding Sinclair Pharma through its transition into an international publicly traded specialty pharma company which delivered its maiden full year profit in FY2008. His broad experience in the pharmaceutical industry and in particular his extensive experience in business development have been very valuable in helping Sinclair to achieve its goals. I personally most appreciate the positive role that he has played in the Company.
I and the board of Sinclair would like to thank Steve for his valued contribution to the Company and wish him well for the future. I am pleased to welcome Grahame Cook as his successor to guide us through the next phase of our evolution and I am looking forward to working with him in his new position."
Steve Harris said:
"It has been a great privilege to have been involved in the Company during its critical development phase. I feel that I have accomplished what I set out to achieve, particularly in helping Sinclair to realise profitability and expand its geographical reach and in establishing its own sales and marketing operations.
I am very proud of what Sinclair and its people have achieved, the growing momentum of the business and its recognition in the specialty pharma sector. I leave Sinclair in very good hands with a strong management team who will undoubtedly guide the Company to a bright and profitable future. I wish Sinclair and all its employees every success as it looks towards a truly exciting future ahead."
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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. The company focuses on niche therapeutic areas and its current portfolio includes products for a wide range of 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.
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