Sinclair Acquires Flammazine, Flammacerium From Solvay

Sinclair Pharma has completed the acquisition of two dermatology products Flammazine and Flammacerium from Solvay Pharmaceuticals for a total consideration of £17.5 million – reported Pharmacy Choice.

The products, both topical creams for the prevention and treatment of infections in burn wounds, are generating global annual revenues of over 9 million well-across Europe. Sinclair plans to grow these revenues via increased promotion, product development and new indications. Upon completion Sinclair will own worldwide rights, excluding the UK and Italy.

Reportedly, the acquisition will be financed by a fundraising of up to £25 million via a combination of debt and equity raised from new and existing investors. In addition to satisfying the consideration of the proposed transaction Sinclair intends to use the balance of the proceeds of the Fundraising to meet related acquisition expenses and for working capital purposes for the group.

Besides, Sinclair has also announced the retirement of Michael Flynn and appointment of Christopher Spooner as new CEO. Christophe Foucher also will be joining the board in his capacity of COO. Both appointments will become effective at the company’s AGM.

Mr. Flynn said: “These products are complementary to Sinclair’s existing dermatology portfolio and, as established and well-known brands, they offer a source of stable income. They also provide Sinclair with the opportunity to broaden its own European commercial presence and seek additional value from other potential applications and line extensions. Today’s announcement underlines our commitment to becoming a leading specialty dermatology business and demonstrates our intense focus on creating a reliable, secure and growing revenue base that makes Sinclair a profitable business, on a

sustainable basis, for our shareholders.”