Sinclair Pharma and IS Pharma agree to terms of a £130 million merger
08 Apr 2011
Sinclair Pharma and IS Pharma, two UK-based pharmaceutical groups, yesterday reached an agreement over the terms for a recommended £130-million merger.
The merger would see the enlarged group headquartered in the UK with direct distribution operations in the UK, France, Germany, Italy, Spain and Ireland with its own manufacturing and product development capability.
Sinclair Pharma directors are expected to unanimously recommend that shareholders approve the deal that was announced in February. They said it would create the UK's biggest specialist pharma group.
The merger is expected to come into effect from 20 May. According to the bid IS Pharma shares have been valued at 99.1p.
Sinclair Pharm is a supplier of skin treatments while IS Pharma is a specialty drugs group.
IS Pharma shareholders would receive 2.68 shares for each share they hold.
