The U.K.'s Sinclair IS Pharma has inked a deal with Quintiles, a 10-year agreement to market the drugmaker's dermo-cosmetic products and medical devices in Mexico.
Neither company got into the financial particulars, but the deal tasks Quintiles with obtaining regulatory clearance, managing distribution, overseeing sales and promoting the products in Mexico. The agreement covers Sinclair IS' atopic dermatitis, scar-reduction, seborrhoeic dermatitis and acne treatments, among others.
The company said Quintiles' 16 years operating in Mexico make it an ideal partner. "This collaboration, a further step in Latin America, supports our company's growth strategy, to move our product portfolio into fast-growing, emerging markets through strategic, regional partnerships," Sinclair IS CEO Chris Spooner said in a statement. "Quintiles' extensive commercialization experience and proven track record in Mexico and other emerging markets made it the clear choice to help us execute our strategy."
The dermatologically focused company is the result of the merger last year of Sinclair Pharma and IS Pharma, and the company is still looking to turn its first profit, reporting a $19 million loss last year. However, the company notched a 50% jump in revenue for the 12 months that ended June 30, and Spooner told The Financial Times that its Latin American expansion will further grow the business.
Next, Sinclair IS will target Brazil, Spooner said, and Quintiles may come in handy again: The CRO recently opened an arm of its commercial solutions business there, aiming to tap what it estimates to be a $17 billion biopharma market.
- read Quintiles' release
- here's FiercePharma's take
- get more from The Financial Times (reg. req.)