The international specialty pharmaceutical company Sinclair IS Pharma plc has disposed its fungal infections drug, Fazol G to Laboratoires Majorelle, a French company specializing in the therapy area of gynaecology, for a cash consideration of € 1.15 million.
Fazol G is used in the treatment of fungal infections and forms part of the Fazol brand family. Fazol G generated revenues of £ 0.4 million in the last full financial year to 30th June 2012, 15 per cent of overall revenues of the Fazol brand.
The disposal is in line with the board’s strategy that planned non-core product disposals would finance a significant part of the €1.7 million redundancy and outplacement costs that arise on the closure of the French factory. Sinclair IS has now covered all these costs from the proceeds of non-core product disposals in the current financial year.
Sinclair IS Pharma is an international specialty pharmaceutical company centred on dermatology; in particular aesthetics, wound care, and skin care. The group has a direct sales and marketing presence in the top five European markets and a rapidly growing International division concentrated on the emerging markets through long term multi -product, multi-country, sales, marketing and distribution deals with key strategic partners.