Sinclair Pharma acquires Italian firm

Sinclair Pharma of the UK has acquired the privately-owned Italian firmPropharma in a share, royalties and cash deal, though the financial details of the transaction were not disclosed. The acquisition is the firm's second major purchase since it was itself the subject of a management buyout in August last year, as it went on to buy Salix Pharma, a Swedish company that makes saliva-stimulating tablets for the treatment of xerostomia (Marketletter December 18, 2000).

By acquiring Propharma, Sinclair claims that it has acquired a market presence in Italy and a range of dermatological and wound-care products to add to Aloclair and Gelclair, which it has already licensed-in from the Italian firm. Sinclair's chief executive, Michael Flynn, added that Propharma is an innovative company "with a good track record for product development." Sinclair also noted that it has become the UK distributor for Photofrin (porfimer sodium), Axcan Pharma's photodynamic therapy.