Sinclair boss hails IS pharma deal

SINCLAIR Pharma, the Surrey-based company which is set to acquire Chester-based IS Pharma next monday, has said the deal will give it “a proprietary presence in the UK market” and accelerate the growth plans of both companies.

IS Pharma’s range of products include drugs at various stages of development for use in oncology, neurology and critical care. Sinclair – which is twice as big as IS Pharma in terms of its market capitalisation – specialises in treatments for the improvement of skin, hair and teeth.

Speaking as Sinclair Pharma announced a 23% increase in revenues for the first quarter of 2011, Sinclair’s CEO Chris Spooner described the merger as “symbiotic”.

“For Sinclair it brings a meaningful commercial presence and sales structure in the UK while fulfilling the IS Pharma strategy of creating a proprietary European presence.

“Importantly, for Sinclair shareholders, it also strengthens the balance sheet and significantly accelerates time to profitability.”