Sinclair Pharma Announces Acquisition of the Company by Huadong Medicine Co., Ltd
LONDON--(BUSINESS WIRE)--Nov 19, 2018--Sinclair Pharma Limited, a global aesthetics company headquartered in London, UK, has announced the close of a transaction in which Huadong Medicine Company Limited (HMC) acquired the company in a deal worth approximately $222 million. HMC is a well-known Chinese pharmaceutical listed company that has established a leading aesthetics business in China and is committed to establishing an aesthetics platform in the United States and other markets.
Sinclair will operate as a stand-alone company under the ownership of HMC. The Sinclair management team will remain in place, with Chris Spooner continuing to serve as Chief Executive Officer.
“This is a significant and exciting opportunity for Sinclair Pharma, positioning us to expand our global operation that aims to be one of the leaders in aesthetics. We continue our commitment to be partners to physicians and to enriching our portfolio with unique, innovative aesthetics products and procedures,” said Mr. Spooner. “HMC has proven experience and the goal of becoming a major global player in the aesthetic market. Its decision to acquire Sinclair to achieve that goal is a testament to our experienced team and our diverse portfolio of effective, high-quality aesthetic products.”
With resources provided by HMC, Sinclair plans to grow its U.S. pipeline of longer-duration, minimally-invasive treatments that lead to natural looking results and exceptional patient satisfaction. In the U.S., Sinclair currently offers Silhouette InstaLift ®, a U.S. Food and Drug Administration (FDA)-cleared minimally invasive treatment for repositioning mid-face tissue, which gradually restores facial volume for long-lasting results. Sinclair also plans to continue to build partnerships with U.S. aesthetic physicians and organizations to establish ongoing medical education and training, and to generate additional clinical data, ultimately leading to improved patient outcomes.
“Sinclair’s unique profile and portfolio of proven aesthetic treatments available in key markets around the world, including the United States, Brazil, Korea and Western Europe, gives HMC an ideal opportunity to enter those aesthetic markets,” said Mr. Liang Lv, the CEO of HMC. “With regulatory approval in China we also will be able to offer Sinclair’s pipeline of unique and clinically important products to healthcare consumers in our exciting home market, where we have been marketing high quality specialty drugs for almost 30 years.”
About Huadong Medicine Company Limited
HMC is a manufacturer and distributor of pharmaceutical and medical products in China, where it has 8,000 employees and generated approximately $4.3 billion of revenue in the financial year ended 31 December 2017. Over the past five years, HMC has established a leading aesthetics business in China, offering a toxin and a variety of fillers. HMC is an affiliate of China Grand Enterprises Inc. (CGE), an investment group headquartered in Beijing. CGE has four businesses sectors: pharmaceuticals and healthcare, commodities trading, real estate investment and financial services, among which, pharmaceuticals and healthcare sector is the core business. CGE generated approximately $21.2 billion of revenue for the financial year ending December 31, 2017. It is ranked in the top five enterprises in the Chinese pharmaceutical industry and manages over 40 pharmaceutical subsidiary companies, HMC is the largest one.
About Sinclair Pharma
Sinclair Pharma is an international company operating in the fast growth, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies, which are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. Sinclair is planning entry to multiple new geographic markets and line extension launches over the next few years. The Group has an established sales and marketing presence in the leading EU markets, Brazil, Mexico and South Korea and a network of international distributors. For more information, visit www.sinclairpharma.com.
“Safe Harbor” Statement under the U.S. 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 U.S. 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.
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CONTACT: Sinclair Pharma
Tel: +44 (0) 20 7467 6920
Head of Communications
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Sinclair Pharma Limited
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PUB: 11/19/2018 08:30 AM/DISC: 11/19/2018 08:31 AM