Sinclair Pharma reports smaller half-year loss

March 25 Tue Mar 25, 2014 4:05am EDT

Related Topics

March 25 (Reuters) - Sinclair IS Pharma, which focusses on dermatology, wound care and skin care, reported a smaller loss for the first half as acquisitions boosted its aesthetics business.

The specialty pharmaceutical company said loss before tax narrowed to 2.5 million pounds ($4.1 million) for the six months ended 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-based AQTIS Medical BV, which makes and markets medical devices for minimally invasive aesthetics therapies, for an initial payment of 16.6 million euros ($22.9 million) in cash.

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

With the acquisition, Sinclair gets global rights to Ellansé brand, which comprises a range of dermal fillers for face and hands.

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

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.