27th Jul 2006 07:00
Sinclair Pharma PLC27 July 2006 Sinclair Pharma plc Trading Update for the year ended 30 June 2006 27 July 2006 Sinclair Pharma plc (SPH.L), the specialty pharmaceutical company, todayprovides a pre-close period update ahead of its preliminary results which willbe announced on 26 September 2006. Revenues for the year ended 30 June 2006 are expected to be approximately£11.6m, an increase of approximately 65% over the previous year (2005: £7.0m).Importantly, Sinclair achieved organic sales growth of 54% to £5.6m excludinglicense fees and milestone payments (£0.6m) on its licensed out products,reflecting the growing number of products now marketed by Sinclair and itspartners. During the period Sinclair acquired CS Dermatologie which contributedapproximately £2.7m in revenues in the period since the acquisition completed on29 March 2006, and Euroderm contributed a full year's revenue of £2.7m against 5months (£1.1m) last year. Commenting on today's announcement, Dr Michael Flynn, Chief Executive ofSinclair, said: "Underlying sales of licensed products have grown more than 54% in 2006reflecting the number of products launched during the year and sales growth inexisting markets. The acquisition of CS Dermatologie is bedding in well and isdelivering the results that we had expected. We believe that with a growingportfolio of products available in the market place, including Decapinol(R)approaching the US market via OraPharma Inc, we have built the platform forfurther strong revenue growth and profitability." Enquiries: Sinclair Pharma plc Tel: +44 1483 426644Dr Michael Flynn, Chief Executive OfficerJerry Randall ACA, Chief Financial Officer Financial Dynamics Tel: 020 7831 3113Ben Atwell/John Gilbert This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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