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Home Industry News Sinclair Pharma reports growth in interim report for 2010-11

Sinclair Pharma reports growth in interim report for 2010-11

25th February 2011

Sinclair Pharma has experienced year-on-year fiscal growth during the first six months of its 2010-11 fiscal year.

Data from the company's interim report for the six months ending on December 31st 2010 show that revenues during the period rose to 14.1 million pounds, up by 28 percent on the corresponding period of last year.

During the half-year, the firm was able to increase its marketing and product development investment, fully repay its Bracken facility and acquire product rights to Kelo-Cote in a number of territories, including the UK.

Moreover, it was announced earlier this month that a possible merger between Sinclair and IS Pharma is being considered, a move which both companies' boards believe would increase their drug development capabilities and market presence.

Chris Spooner, chief executive officer of Sinclair, said he believes the potential deal will "improve critical mass and create substantial shareholder value".

He added: "I believe Sinclair now has a platform for sustainable and profitable growth, coincident with renewed equity interest in the specialty pharma business model."ADNFCR-8000103-ID-800428030-ADNFCR

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