Nice to see the CEO, his missus and a non exec put some more skin in the game by buying 200K each. CEO now has about 2% of the company. This on the back of a pretty decent trading statement makes me feel quite positive for the future.
Only fly in ointment is the Numis note with a target price of 21p.
Sales increasing across most product lines by healthy percentages and moving to EBITDA profitability and a broker puts out a note with a target price lower then the current price??? What a bunch of monkeys!
RNS: 19/10/2017: New CE mark granted for Silhouette Soft®. Probably what has prompted the move up as people realise that the product has a globally recognised status as an EU approved medical device. Sales should be good on the back of this news. Well done Sinclair from someone who knows a bit about audit of companies who are trying to get (re-get) the CE mark.
I.M.O. Tosca is not out of the game at all. They sold 5% of Sinclair down to 24.5% but they are now buying again. I think they sold those 5% to a friend, knowing that in case of a major move this friend is going to vote in favor of Toscas proposition. Now they are free to buy up again towards 29%.
Another striking coincidence is the SP. Since Sinclair became an aesthetics company and left pharmaceuticals, the SP is quietly mimicking the SP of Almirall (Spain). Have a look at the chart of both Sinclair and Almirall, striking isn't it ?
Anyway, I still expect Sinclair to be taken over rather soon. After all Tosca is probably not going to stay invested in Sinclair for a very long period.
Wonder why the s/p went up 2p today...?
I go all the way back to Medeva years and years ago (please don't remind me how long) then it was I.S. pharma I think,then Sinclair I S Pharma,now Sinclair Pharma....!
Figures maybe out soon perhaps....?
Think as I've been here sooooo long I deserve a return on my investment.Any idea's about how high this share could go anyone....?
shareholding now up to 24%. Will they build to 30% and trigger a bid?
As I understand it they would then have to offer cash to all other shareholders at the highest price they had paid for any shares over the previous 12 months.
Sadly for me that would result is a substantial loss on my purchase price of 63p back when they were Acambis (?), so long ago I can't remember the original incarnation.
Lets hope we see a good SP run up before Tosca get to 30%
Barcelona, 27th February, 2017.- Almirall, the global pharmaceutical company based in Barcelona, has posted its full-year 2016 results today.
2016 has been an important year for Almirall to continue consolidating our new strategic direction. Dermatology continues to be the key growth driver and now accounts for 51% of Net Sales. The addition of Poli Group has reinforced our dermatology Rx business while the acquisition of ThermiGen allows us an entry point into the Aesthetics market.
The acquisition of ThermiGen has been key in Almiralls presence in Aesthetics. 2016 delivered a +62% growth versus the previous year. In 2017 ThermiGen approved devices will be available in the EU.
During 2016, Almirall has continued to transform its business with the ultimate goal of becoming a key player in the global Dermatology market. Poli Group and ThermiGen have been fully integrated within Almirall. In addition, a US distribution and strategic-marketing collaboration agreement was made with Sinclair for Silhouette Instalift, the only injectable aesthetic product with a lifting claim in the US market, providing access for this product to the world's largest Aesthetics market.
Almirall will become a leading specialty pharmaceutical company with a strong focus on improving lives of Dermatology and Aesthetics patients.
The company will use its strong cash position to fund growth opportunities in this direction
Could it be interested in Sinclair as a friendly predator ?
Nice to see a positive move up (7.5%) in anticipation of the final results due out on Tuesday.
This will be almost a full year as a pure play aesthetics company in what is undoubtedly a high potential growth market.
Expecting good news and further positive share price action.
Nestlé Health Science on Feb. 2 said it acquired CM&D Pharma Ltd., a small U.K. company that develops foods for special medical purposes, primarily products for patients with kidney disease, inflammatory bowel disease and colon cancer. CM&D was part of the portfolio of Inventages Group, an independent venture capital fund that Nestlé invests in. Its leading product, Fostrap, is a medical food in the form of a chewing gum for kidney patients who have an elevated level of phosphate in the blood (hyperphosphataemia).
The Wall Street Journal reported CM&D was started in 2007 by former Sinclair Pharma PLC executive Danilo Massari. Though the company has yet to fully launch a product, it has a number of medical foods in trials -- including Eviendep, a mix made from an extract of milk thistle and dietary fiber, which may slow the progression of colon polyps, and Recoclix, a synthetic extract derived from egg yolk, that relieves pain associated with Crohn's disease and inflammatory bowel disease.
"This acquisition is an excellent fit with Nestlé Health Sciences' strategic goal of being a pioneer in the promising area of science-based nutrition," says Luis Cantarell, president/CEO of Nestlé Health Science. "We share CM&D's commitment to use health science for improving the quality of people's lives, and this acquisition will help to reinforce our position in this opportunity. Additionally, CM&D will benefit from Nestlé Health Science's commitment to biomedical research, and the resources of the Nestlé...
Nestlé seems determined to take on its rivals in the dermatology field. A few days ago, Nestlé enrolled Allergan executive Paul Navarre, (president of Allergans international business) to succeed H. Antunes as chief of Nestlé Skin Health. Navarre will bring along plenty of skincare experience to accomplish Nestlé's ambitions. Allergan markets a suite of skin and cosmetic treatments, including the blockbuster wrinkle treatment Botox. Nestlé already has co-marketing rights to Botox rival Dysportl outside the U.S. and Canada, and it also brings to the market several other cosmetic treatments which it bought from Valeant in 2014.
Nestlé intends to diversify beyond the sluggish food business, and it more deals have and probably will follow. For instance, it formed a joint venture with Guthy-Renker, marketer of Proactiv--one of the worlds best-selling acne treatments.
Nestlé has also been a subject of recent rumors concerning Bayers $1.1 billion dermatology business, but the names of other players, including Teva, Almirall and Allergan, seem to be involved in those rumors, too.
You never know Sinclair Pharma comes on their radar as well.
Results initially seemed to be well received, according to the SP at least. Unless I am missing something, most everything appears positive. Sadly SP gains didn't hold. Maybe a few quarters of Sillouette taking Beverley Hills by storm may see things moving in the right direction.
"Sinclairs interim results for the six-month period to 30th June are in line with expectations and the companys trading update in July, with revenue of £17.3m and a strong balance sheet at period-end in spite of significant deferred consideration payments during the period. The potentially transformational US launch of Silhouette Instalift is ongoing since August, backed by ThermiGens 65-strong sales force." - N1 Singer, via Research Tree
Well, there we are. What's not to like - apart from the overhead cost base. All we need now is sales of c£65m and we're in profit! I hope the sales force is good. Mind you, if t/o keeps increasing at 125%pa, it won't take long!
The preliminary announcement in July was well received - as one would expect of a 125% increase in lfl turnover. However, the recent announcement of the departure of Mr Foucher has knocked the shares right back. (I assume that the decline in the share price is for that reason, not some horror in next week's announcement which has been leaked.) Mind you a payoff which is a significant part of the restructuring costs of £2.8m sounds steep, especially in a company with a market cap of £138m. At least he can only leave once - can't he?!!
The shares got a boost when the co. put itself up for sale, its been going on quite a while now so perhaps there isn't buyer... thats my guess and the recent price movement suggests that information is leaking somewhere
Non aesthetics sold at a 3x multiple of forward sales. This was a zero growth business.
A share price of 40p gives us a market cap of 200m give or take. 80m cash in bank. So in simple terms current value placed on aesthetics business is 120m.
Last years sales were approx 30m. Business is growing at 40%. Forward looking sales are approx 42m. 3x sales would feel low for a growth business.
The big unknown is what someone would value the us approval of silhouette at. $200m peak sales predicted at year 5 by two independent analyses.
Also we retain milestone options for US flammacerium.
If non US sales keep growing they could be 60m or more in 3 years. Assume moderate uptake of silhouette in US could be 40m ($60m) so total sales of 100m.
There are still milestone payments for most products and liabilities I think are approx 50m for these payments. All are based on success of the products tho.
A guesstimate could be current business valued at 4-5x sales(160-200m) add in 50-100m for Silhouette in the US. Add in 5m for flammacerium. Take away 25-50m for forward liabilities. Add 80m for current cash position.
This gives me values of 245m up to 360m so I think this gives share prices of 48p up to 72p.
These are Sunday afternoon fag packet calcs but may open some discussion.
So, after this deal does anyone have any idea what the overall value of the company is, and what the remainder is really worth?
The share price didn't exactly explode on the news, less than 10% gain since, so it doesn't look that good at first glance. If it were only a small part of the company then the gain, averaged out over the entire share base, doesn't look too bad.
I almost bought in here at 40p-ish and glad I didn't. But this obviously has a way to go so will get in if an opportunity opens.
28 May 2014
Valeant shipped off rights to a handful of cosmetic products to Nestlé as the Swiss food group looks to expand into the dermatology space. In exchange for $1.4 billion in cash, Nestlé will grab North American rights for antiwrinkle treatments Restylane, Perlane, Emervel and Dysport. The company already claims the ex-North American rights to those treatments, thanks to its March move to take full ownership of Galderma, a dermatology venture with L'Oreal. As part of the Valeant deal, Nestlé will also gain worldwide rights to another aesthetic med, Sculptra. Galderma not only has a history of building strong businesses, but is firmly committed to the aesthetic dermatology. Galderma has already built a strong franchise with Restylane, Perlane, Dysport and Emervel outside North America and, with the addition of Sculptra, will now have the ability to bring their expertise to the U.S. and Canada. For Nestlé, the pickup is part of an attempt to diversify beyond its signature food products. While it isn't a huge deal, in combination with the $3.6 billion Galderma buyout, it's a signal that they are serious about expanding their business into the health sphere, analyst Jon Cox told the Financial Times. "I would expect to see more acquisitions from them as they move further into the medical and health spectrum," he said.
(Reworked article from FiercePharma)
The update heading says it all: creates a fast growth, high margin pure-play differentiated aesthetics company . Then one can assume with little doubt that SPH could be a nice fit for lOréal, Nestlé, Beiersdorf, Lauder and so on
Didn't I say a few days ago : this is going to reactivate M&A activity...It's not what I expected yet but is goes in the right direction... making Sinclair more attractive.... a leaner range of high-margin products and above this, cash enough in the pockets...
A deal as been done but not the final one. They have money in the bank now and can go either two ways sell or develop, statement said their are companies still interested. SPH IMHO are now in a very strong position let us hope that the market agrees
Phizer is taking over Botox maker Allergan (not yet confirmed but it probably will later today). We know Sinclair is selling something similar as Botox (and some pretend it could be working even better than Botox). Waiting to see how the market reacts on this important news. This is certainly going to reactivate the M&A activity.
Smart money is already in here. If the $500 bid is true ( and in some reports it says in excess of) that equates to a bid price of 65p a share ! . I think there is plenty more scope for SP increases and even if a bid doesn't come the company is moving towards profitability and the whole sector are looking for M&A's so it wont be long.
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