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Sinclair Pharma reports smaller half-year loss

Tue, 25th Mar 2014 08:05

March 25 (Reuters) - Sinclair IS Pharma, whichfocusses on dermatology, wound care and skin care, reported asmaller loss for the first half as acquisitions boosted itsaesthetics business.

The specialty pharmaceutical company said loss before taxnarrowed to 2.5 million pounds ($4.1 million) for the six monthsended Dec. 31 from 5.8 million pounds a year earlier.

Revenue rose 6.6 percent to 24.5 million pounds.

Sinclair also said it agreed to acquire Netherlands-basedAQTIS Medical BV, which makes and markets medical devices forminimally invasive aesthetics therapies, for an initial paymentof 16.6 million euros ($22.9 million) in cash.

The deal also involves a future payment of 30 million euroson achieving some revenue and regulatory approval targets.

With the acquisition, Sinclair gets global rights to Ellansébrand, which comprises a range of dermal fillers for face andhands.

Shares in the company were unchanged at 31 pence on theLondon Stock Exchange early on Tuesday. ($1 = 0.6065 British Pounds) ($1 = 0.7255 Euros) (Reporting by Aastha Agnihotri in Bangalore; Editing byGopakumar Warrier)


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