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Sinclair IS Pharma up for sale

Sinclair IS Pharma up for sale

  • 25/11/2014

Source: Interactive Investor

Just days after appearing in Interactive Investor's feature AIM's fastest growing companies Sinclair IS Pharma (SPH) has put itself up for sale. The skin-focused pharma firm has asked Rothschild to help it find a buyer for all or part of the business, and the implication must be that the shares are potentially worth far more than the current market price. They're already up 11% on the news to 36p.

In his AGM statement, chairman Grahame Cook delivers what appears to be a pitch to any potential bidder:

Sinclair has a market leading aesthetics dermatology portfolio. We also have a significant product pipeline which includes Flammacerium that has already been granted orphan drug status in the United States. The board of Sinclair believes the portfolio has significant and sustainable growth potential across the world.

Sinclair is doing well and is trading in line with forecasts. And as we highlighted just days ago, house broker finnCap expects the company to grow earnings per share (EPS) by 37% in the year to June 2015 and 53% the following year. "That's impressive, and a forward PE ratio of less than 17 is an unfair discount to the sector," we said. "Directors certainly think so. They've just spent over £200,000 on shares in the company."

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