27th Jun 2008 07:00
Sinclair Pharma plc
Sinclair signs first agreement for distribution and manufacture in India
27th June2008, Godalming, UK: Sinclair Pharma plc ("Sinclair": SPH:L), the international specialty pharmaceutical company, announces it has concluded its first marketing distribution agreement in India.
This agreement is a further step towards Sinclair's goal of establishing its brands in the key BRIC (Brazil, Russia, India, China) countries.
The agreement has been signed with Wockhardt, an Indian pharmaceutical and biotech company employing 7,500 people and sales last year of around $670 million. The 10 year agreement with Wockhardt in India initially covers the following products:
Atopiclair‚® - non steroidal cream for atopic dermatitis
Aloclair‚® - presentations for the treatment of mouth ulcers
Papulex‚® - presentations for the treatment of acne
Decapinol‚® - product range for the treatment and prevention of gingivitis and plaque
Under the agreement Sinclair will provide finished product to Wokhardt but switch to local manufacture as soon as possible, which will enhance the margins for Sinclair.
The Indian pharmaceutical market is currently valued at $7 billion, with a growth rate of 17 percent compared to 7 percent annual growth of the global industry, and is expected to generate the third largest incremental growth amongst all markets over a decade.
Dr Michael Flynn, CEO of Sinclair Pharma plc, noted: "We are very pleased to appoint Wockhardt as our distributor for these products in India. Wockhardt is a dynamic and rapidly growing company and we hope this is the first step towards forging a long-term and mutually rewarding relationship. We have a very active programme pursuing opportunities in the BRIC countries and the Middle East which we believe offer substantial growth opportunities for the sales of our products in the coming years. We approach the end of our most successful year witnessing a rewarding level of growth and a new era as Sinclair starts to reap the benefit of several years' investment in developing new products and establishing effective, geographically diverse distribution."
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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. For further information on the Sinclair product portfolio please visit: http://www.sinclairpharma.com/ products.php or the following micro-sites in reference to this release:
www.atopiclair.comwww.aloclair.comwww.decapinol.co.uk
www.sinclairpharma.com/product_Papulex.php
About Wockhardt www.wockhardt.com
Wockhardt is a rapidly growing international Indian company operating in pharmaceuticals and biotechnology. With more than 7500 employees and turnover in 2007 of about US$670 million the company reported a 50% growth over last year in Q1 2008.
"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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