Sinclair Pharma PLC Update on US distribution of Silhouette Instalift (8395I)
March 26 2018 - 1:00AM
UK Regulatory
TIDMSPH
RNS Number : 8395I
Sinclair Pharma PLC
26 March 2018
Update on US distribution of Silhouette Instalift(TM)
and notice of full year results
London, 26 March 2018. Further to the announcement on 22
February 2018 regarding the termination of the contract with
ThermiGen LLC ("Thermi"), Sinclair Pharma plc (AIM:SPH.L)
("Sinclair" or the "Group") confirms it will regain the full US
distribution rights for Silhouette InstaLift(TM), Silhouette
Refine(TM) and Silhouette Lift(R) on 31 March 2018.
Sinclair is in advanced discussions to secure a new distribution
agreement for Silhouette Instalift(TM) in the US and Sinclair
expects to conclude these discussions in the coming weeks. As
previously announced, Sinclair has agreed to buy back Thermi's
remaining inventory and from 31 March 2018 interim measures have
been put in place to supply customers until such time as the
alternative arrangement has been agreed.
Sinclair also announces it is in advanced discussions for an
extended debt facility which management expects to provide greater
flexibility than the current arrangement and will provide the Group
with additional cash resources at a more competitive rate than the
existing facility.
Sinclair intends to report its full year results for the year
ended 31 December 2017 on 30 April 2018 which will be accompanied
by an update on the Group's US strategy.
Ends
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 20 7467
6920
Chris Spooner
Alan Olby
Andy Crane
Peel Hunt LLP (NOMAD and Tel: +44 (0) 20 7418
Joint Broker) 8900
James Steel
Oliver Jackson
RBC Capital Markets (Joint Tel: +44 (0) 20 7653
Broker) 4000
Marcus Jackson
Laura White
Media enquiries
FTI Consulting Tel: +44 (0) 203 727
1000
Ben Atwell
Brett Pollard
Stephanie Cuthbert
Notes to Editors:
About Sinclair Pharma plc - www.sinclairpharma.com
Sinclair Pharma plc is an international company operating in the
fast growth, high gross margin, 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
and Brazil, and a network of international distributors.
"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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTPGUMPWUPRGQA
(END) Dow Jones Newswires
March 26, 2018 02:00 ET (06:00 GMT)
Sinclair Pharma (LSE:SPH)
Historical Stock Chart
From Apr 2024 to May 2024
Sinclair Pharma (LSE:SPH)
Historical Stock Chart
From May 2023 to May 2024