Sinclair Pharma's FY 2007 loss widens to L3.9M

UK drugmaker Sinclair Pharma says that, for the 12 months ended June 30, 2007, its total income increased 100% on the comparable period last year, to L23.2 million ($46.9 million), as sales grew 160% to L14.1 million, helped by a 46% rise in revenue from its marketing partners to L9.1 million.

However, during the period the firm's operating loss widened to L3.9 million from L3.0 million, inflated by high net exceptional costs, which amounted to L1.4 million versus L100,000 the year before, while loss before interest, tax, depreciation and amortization improved to L1.1 million from L2.5 million.

Steven Harris, chairman of the Godalming-headquartered company, said: "this has been a year of strong commercial development for the group, as we start to leverage the sales and marketing infrastructure in which we have invested. Our French operation CD Dermalogie launched Atopiclair in February, and our UK operation Ashbourne launched Atopiclair this week. These complement European launches of the product by our marketing partner Intendis." He added that total revenues from the atopic dermatitis/eczema product increased 358% to L4.7 million.