Sinclair loss reduced 50% in 1H FY 2007

UK-based drugmaker Sinclair Pharma says that its operating loss for the six months ended December 31, 2007, was L863,000 ($1.7 million), down 49.2% from the L2.6 million deficit it recorded in the first half of its 2006 fiscal year. The firm's loss per share fell to 1.1 pence from 3.3 pence in the comparable year-earlier period.

Sinclair said that the improvement had been driven by a 15% increase in revenue for the period to L10.4 million, with turnover from sales and marketing activities growing 4% to L6.7 million. In addition, the contribution from marketing partnerships, including payments from India's Dr Reddy's which licenses its seborrheic dermatitis product Seblair, was up 39% to L3.7 million.

The Godalming-headquartered firm also reported that the reformulation of its oral health care product Decapinol is due to be completed in the next few months, at which point it will be resubmitted for assessment by the US Food and Drug Administration.