Sinclair Pharma has booked a 100% increase in total revenues to £23.2 million, driven by the continued organic growth of its products through marketing partners and its own sales and marketing operations in France, Italy, the UK, Spain and Portugal.
Organic growth of product sales through the company’s marketing partners rocketed 46% to £9.1 million, largely because of impressive sales of its flagship products Atopiclair and Aloclair, which grew by 358% to £4.7 million and by 20% to £2.4 million, respectively.
And the group’s own sales businesses in the UK, France, Italy, Spain and Portugal also turned in a stellar performance, generating revenue of £14.1 million compared to the £5.4 million booked last year.
This includes the UK sales and marketing operation Ashbourne, which Sinclair bought for £1.3 million last year. Ashbourne contributed sales of £1.5 million for the nine months since the acquisition in September 2006, the group said.
On the downside, the purchase also helped to swell total operating expenses for the year, which leapt from £9.0 million to £19.0 million, driving a 43% increase in loss before tax to £4.0 million.
But Steve Harris, Sinclair’s chairman, was upbeat about the results: "This has been a year of strong commercial development for the group, as we start to leverage the sales and marketing infrastructure in which we have invested. Our French operation CS Dermatologie launched Atopiclair in February, and our UK operation Ashbourne launched Atopiclair this week. These complement European launches of the product by our marketing partner Intendis; total revenues from marketing partners for Atopiclair grew by 358% over the previous year. During the year our pipeline advanced materially, with registrations of six new products and new clinical data for our on-market and pipeline products.”
Meanwhile, the group also announced yesterday that it has licensed the exclusive US rights of its seborrheic dermatitis product, Sebclair, to Dr Reddy’s Laboratories, Inc, which will market the product under a new brand name through its new dermatology division.
The deal grants Dr Reddy’s exclusivity in the US for Sebclair and associated line extensions for the life of its patent protection. Sinclair stands to receive certain milestone payments as well as sales-based royalties, but specific financial details were not revealed.
And, earlier this week, Sinclair reported the UK launches of Atopiclair Cream for eczema and Xclair Cream for radiation dermatitis. Atopiclair is already available in the US, and was launched earlier this year in mainland European territories by Sinclair and through a co-marketing agreement by Intendis GmBH.
“Atopiclair is currently our biggest product,” said Dr Michael Flynn, Sinclair’s chief executive. “These launches of two Sinclair products by our own operation in the UK represent important steps in establishing Sinclair as a fully integrated specialty pharmaceutical company. Atopiclair and Xclair both serve an unmet market need and have demonstrated success in other territories,” he added.