Sinclair will acquire the sales and worldwide commercial rights for Flammazine and Flammacerium from Solvay Pharmaceuticals for a total of €17.5m. The acquisition will be funded through a combination of debt and equity raised from new and existing investors.
Both products are already established brands across Europe, generating global annual revenues of over £9m.
“They also provide Sinclair with the opportunity to broaden its own European commercial presence and seek additional value from other potential applications and line extensions,” Flynn said.
Flammazine and Flammacerium are sold in over 45 countries worldwide and are approved for use throughout Europe and various emerging markets. On completion Sinclair will own worldwide rights, excluding the UK and Italy.