Sinclair IS Pharma buys global rights to dermal gel Perfectha

Tue Jan 7, 2014 2:54am EST

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Jan 7 (Reuters) - Sinclair IS Pharma Plc said it entered an agreement to buy the global rights to dermal gel brand Perfectha, in a deal that is expected to significantly add to earnings.

The specialty pharmaceutical company said it bought the rights to Perfectha through the acquisition of dermatology company Obvieline Laboratories SA.

"Sinclair will invest further in sales and marketing and together with limited clinical development costs will result in Perfectha making a modest contribution to Group EBITDA in the remainder of the current financial year with significant earnings accretion expected to come in 2014/15 and beyond," the company said in a statement.

Sinclair, which focuses on dermatology, wound care and skin care, said the Perfectha brand includes five gel products which reduce facial folds, lines and wrinkles.

The company said it also entered into an agreement to buy distribution rights mainly in Brazil and Russia from Obvieline's parent company, Pharmavital SA, for up to 32.2 million euros ($43.93 million) in cash with an initial payment of 10 million euros.

Sinclair said the acquisition would be funded through a new debt facility.

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