London, UK, and Singapore - March 21, 2011 - Sinclair Pharma Plc ("Sinclair" or "the Company": SPH:L), the international specialty pharmaceutical company and Invida Holdings Private Limited ("Invida") are pleased to announce the inclusion of India into their long-term partnership for the commercialisation of Sinclair's market leading dermatology brands in the Asia-Pacific region. Invida is the region's leading specialty biopharmaceutical company with 4,000 employees and a presence in all major markets, including India. The expanded partnership adds India to the 11 markets within the Asia-Pacific region in which Invida has been granted exclusivity for Sinclair's dermatology and wound care brands. This second step in the partnership between Invida and Sinclair offers substantial opportunities for sales growth and increased awareness of Sinclair's brands worldwide. In 2010 the Indian dermatology market grew 21 per cent and had an estimated value of USD 513 million, representing 25% of the Asia-Pacific dermatology market.1
The Sinclair-Invida partnership is moving swiftly towards the commercialisation phase, with preparations underway for the initial launches. In India, Invida's resources will be focused primarily on commercialising Sinclair's ranges for atopic dermatitis, seborrhoeic dermatitis and acne. Invida's Indian team will benefit from the support of Sinclair's locally based regional business director, committed to the timelines and success of these launches.
Chris Spooner, Chief Executive Officer of Sinclair, commented:
"As a leading emerging market with the potential for sustainable high growth, India is key for Sinclair and Invida has again proved the compelling partner of choice with its demonstrable ambition, presence and commitment to our portfolio.
"Sinclair will operate via its own Indian subsidiary and will manufacture locally through Encube Ethicals Pvt (Goa), a leading Indian topical dermatology manufacturer. We have been highly impressed with Encube's commitment to quality and service. In-line with our commitment to improving margins, over time we expect to widen the scope of the manufacturing agreement beyond the Indian domestic market. Today's announcement is a further step towards Sinclair's ambition to leverage its portfolio/product development capability and minimise business complexity through the creation of multi-country emerging market partnerships. This is a core strategy for Sinclair and has the potential to significantly accelerate the Group's earnings profile over the medium-term. We are excited by the prospect of further similar announcements this year."
John Graham, Chief Executive Officer of Invida, added: "I am delighted to expand our regional collaboration with Sinclair in India. This addition demonstrates the high confidence Sinclair has in Invida's market expertise in India and throughout the region."
For further information please contact:
Sinclair Pharma plc
Chris Spooner, CEO
Alan Olby, CFO
Tel: +44 (0) 1483 410 600
Tel: +44 (0)20 7831 3113
Invida Group Pte Ltd
John Graham, CEO
Louis Payet, VP Corporate Development and Alliance Management
Tel: +65 6494 7200
Invida Group Investor and Media Relations
+1 (978) 745 4200 x104
Singer Capital Markets Limited
Tel: +44 (0)20 3205 7500
Notes to Editors:
Sinclair Pharma plc is an international specialty pharmaceutical company providing solutions to treat wounds, dermatological and oral diseases through advanced surface technology and innovative delivery systems. It has a growing sales and marketing operation that is present in France, Italy, Germany and Spain, and an extensive marketing partner network across selected developed & emerging markets.
About Invida Group Pte Ltd
Invida improves the lives of patients in Asia by commercializing differentiated pharmaceutical products of superior quality – the result of which will allow all Invida stakeholders to prosper. This is done through proven brand marketing and sales know-how, strong expertise across a number of key therapeutic categories and deep experience in all critical Asian markets. Comprehensive functional capabilities provide rapid market access delivered by passionate team of professionals.
With 3,500 employees in 13 markets in Asia-Pacific, Invida operates across the commercial value chain from regulatory approval and product launch to lifecycle management. We manage a portfolio of proprietary healthcare brands as well as licensed products from small biotech firms and large multinational companies. Partnering is a critical component of Invida's business model. We collaborate closely with our partners in developing effective strategies and put our extensive experience behind maximizing the potential of the assets entrusted to us.
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward-looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward-looking statements due to a variety of factors.
Sinclair Pharma and Invida Group agree partnership deal for the commercialisation of Sinclair's leading brands in India