LONDON (dpa-AFX) - Specialty pharmaceutical company Sinclair IS Pharma PLC (SPH.L) Monday announced the disposal of Fazol G, a part of the Fazol brand family which is used in the treatment of fungal infections, for 1.15 million euros to Laboratoires Majorelle, a French company specializing in the therapy area of gynaecology.
The company said the disposal was in line with the Board's strategy of using the proceeds from planned non-core product disposals to finance a significant part of the 1.7 million euros redundancy and outplacement costs that arise on the closure of the French factory. The company further added that it has covered all these costs from the proceeds of non-core product disposals in the current financial year.
Fazol G generated revenues of 0.4 million pounds in the last financial year that ended June 30 2012, which is 15 percent of overall revenues of the Fazol brand.
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