IS Pharma, the Chester based specialty pharmaceutical company, announced in its April update that it plans to merge with Fully Listed Sinclair Pharma on terms which will result in IS Pharma shareholders owning 36.7% of the enlarged group. The proposed merger price is 99.1p per IS Pharma share - a 17% premium over the pre-deal announcement share price.

Founded in 1971, Sinclair Pharma is a specialty pharmaceutical company with products focused in the dermatology, wound care and oral health areas. For the year to June 2010, Sinclair Pharma achieved sales £27.6 million (2009: £30.4 million) and adjusted pre-tax loss of £5.0 million (2009: £1.4 million loss). The Sinclair Pharma CEO will be the CEO of the enlarged group.

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