Sinclair predicts sales up 30% in full-year

Godalming, UK-based Sinclair Pharma has provided a pre-close period update ahead of its preliminary full-year results, which will be announced at the end of September.

Revenues for the year ended June 30, 2008, are expected to be around L30.2 million ($60.3 million), an increase of 30% on the previous year, driven by organic growth across all sectors. These will be further increased by a refund from the French tax authority of 2.2 million euros ($3.4 million), which is to be paid in October and is related to a claim initiated by CS Dermatologie prior to its acquisition by the firm.

Michael Flynn, chief executive of the company, said "this has been a transformational year for Sinclair Pharma and we are at a pivotal point in our development. Our successful product development and acquisition strategy has provided us with a robust portfolio of patented products for the international markets. We have six products currently filed for registration in the USA and one filed in Japan. Our revenues are now spread across a broad range which are in the infancy of their commercial life."