Godalming, UK, 27 February 2007: Sinclair Pharma plc (SPH.L), the specialty pharma company, today announces its half yearly results for the six months ended 31 December 2007 and a summary of post-period activity. Highlights
Financial highlights • Revenues increased by 15% to £10.4m (H1 FY07: £9.1m). • Improved gross margin of 64% (H1 FY07: 63%). • Operating loss reduced £0.9m (H1 FY07: £2.6m loss). • EBITDA loss before exceptional items reduced to £1.6m (H1 FY07: £2.4m). • Loss per share reduced to 1.1p (H1 FY07: 3.1p loss per share). Operating highlights H1 saw a 15% increase in revenues despite delays in the US launch of Decapinol and flat sales of Atopiclair in the US. We have refocused the company to optimise the management of our marketing network as well as streamlining our own marketing operations in France, Italy and the UK. Line extensions and launches across operations in H1 have strengthened our portfolio of products. We continue to work with our US partner, Orapharma, on the new formulation of Decapinol.
There have been a number of new agreements signed with marketing partners in H1. These include the appointment of Dr Reddy’s Laboratories, Inc. as Sebclair marketing partner in the US. We have seen 13 further product launches through marketing partners across Europe.
Pipeline advancement Sinclair has acquired products from Derma Omnium and Syrio Pharma for the Group to sell through its own European sales operations and our partner network. There have been three new product registrations in the first half of the year and post period. Sinclair is also approaching completion of development of an anti-wrinkle product with clinical trial back-up, and a product for intensive treatment of infected gum pockets together with further product registrations anticipated in the EU and US.
Steve Harris, Chairman of Sinclair Pharma plc, commented: “These figures demonstrate Sinclair’s continuing growth. We are committed to growing sales in line with expectations during the second half of the year, while keeping costs under control. We have already seen a strong start to the second half, with a record order book.”
For further information please contact: Sinclair Pharma plc Tel: +44 (0)1483 410 600 Dr Michael Flynn, CEO Jerry Randall, CFO Halina Kukula, Investor Relations investorrelations@sinclairpharma.com
