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Flammazine helps Sinclair grow

Mon, 08th Nov 2010 12:52

Skin treatments supplier Sinclair Pharma's revenues grew strongly in the third quarter thanks to initial revenues from burns cream Flammazine. Sinclair Pharma's revenues grew 47% on a constant currency basis and this has provided a boost for the shares and taken them above the 28p a share placing price earlier this year. Manufacturing efficiencies are helping to improve margins.Like-for-like revenues, excluding acquisitions and disposals, grew 9%. Flammazine, a cream to prevent infections in burns acquired at the beginning of 2010, generated revenues 26% ahead of budget. France, which generates one-third of revenues, is growing again. The £19m raised during the summer gives Sinclair a strong balance sheet. Broker Singer expects further product development and line extensiosn of existing products. It points out that Sinclair is no longer reliant on one-offs and milestone payments.