23rd Jan 2007 07:00
Sinclair Pharma PLC23 January 2007 Sinclair Pharma plc pre-close statement: 143% sales growth achieved, strong order book and further integration progress reported 23 January 2007, Godalming, UK. Sinclair Pharma plc (SPH.L), the internationalspecialty pharmaceutical company, today provides a pre-close trading update forthe first half of the financial year to 31 December 2006 ahead of the interimresults announcement expected on 26 March 2007. Revenues are expected to be £9.0m compared to £3.7m for the same period lastyear, an increase of 143%. This increase in revenues has been driven partly byincreasing sales of Sinclair's flagship product, AtopiclairTM, and by theacquisitions of CS Dermatologie and Ashbourne Pharmaceuticals, which togetherare making a strong contribution to revenue growth. The Board anticipates that trading for the full year will be in line with theCompany's expectations. Some anticipated revenues for the first half will nowfall into the second half, when orders from marketing partners will be fulfilledin early 2007. Revenues in the second half are expected to be significantlyhigher than in the first half. Following a review of its operations theCompany's Italian subsidiary Sinclair Srl has undergone a reorganisation andrationalisation of its product portfolio, resulting in the profitable divestmentof a number of non-core products and reducing its first half contribution torevenues. Sales of Sinclair products through marketing partners The momentum of Sinclair's marketing partners' product launches continues tobuild and the Company has a strong order book. Sinclair's existing US distributor of Atopiclair, CVP, has merged with GracewayPharmaceuticals. As a result of this the number of sales representativesdetailing the product is being increased to 160 and Sinclair expects to benefitfrom increased orders from the second half of the year. During the period,Sinclair has also continued to expand its marketing partner network, signingagreements with eight new partners for six products, covering 29 countries. TheCompany now has marketing partners in 66 countries worldwide. Steve Harris, Chairman of Sinclair Pharma plc, commented: "We have invested significantly in the business, putting infrastructure in placeand expanding sales and marketing distribution in Europe. Our lead products areshowing growth, which is reflected in the increase in revenues for the periodand a strong order book, while our acquisitions are making good contributions tothe business. In addition, we are continuing to build and develop our productpipeline and believe that the Company is well positioned to build on a solidbase and to generate strong performance going forward." - End - Enquiries: Sinclair Pharma plc +44 (0)1483 410 600Dr Michael Flynn, CEOJerry Randall, CFOZoe McDougall, Director of Communications +44 (0) 7973 792 520John Barrington-Carver, Communications +44 (0) 7831 655 630 Capital MS&L +44 (0) 207 307 5330Mary Clark, Halina Kukula Notes to Editors Sinclair Pharma plc Sinclair Pharma plc is an international specialty pharmaceutical company. Ithas a growing sales and marketing operation that is already present in France,Italy, UK, Spain and Portugal, and a complementary marketing partner networkthat spans more than 60 countries. Sinclair has proven expertise in acquiring or developing commercially attractiveand undervalued products, registering these products and bringing them to marketwithin a short time frame. The company focuses on niche therapeutic areas andits current portfolio includes products for dermatological conditions and oralhealth. Other languages For versions of this press release in German, French, Spanish or Japanese pleasecontact [email protected] "Safe Harbor" Statement under the US Private Securities Litigation Reform Act of1995: Some or all of the statements in this document that relate to futureplans, expectations, events, performances and the like are forward-lookingstatements, as defined in the US Private Securities Litigation Reform Act of1995. Actual results of events could differ materially from those described inthe forward- looking statements due to a variety of factors. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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