Geographical expansion is a core element of our growth strategy. Emerging demand in the BRIC (Brazil, Russia, India and China) nations and Middle East represent an important opportunity for our products and we have recognised the significant value potential that demand within these markets can create.

By extending the commercial presence of our product portfolio on a global basis we seek to provide patients all around the world with an effective solution to their oral health and dermatological needs. With a focus on key brands in key markets, we aim to take existing products into new geographies and new products into existing and new geographies.

During this financial year Sinclair moved towards establishing effective, geographically diverse distribution by concluding its first marketing distribution agreement in India.

An agreement has been signed with Wockhardt, an Indian pharmaceutical and biotech company employing 7,500 people, generating sales last year of around $670m. The ten year agreement with Wockhardt in India initially covers the following products: Atopiclair^®, Aloclair^®, Papulex^® and Decapinol^®.

The Indian pharmaceutical market is currently valued at $7.0bn, with a growth rate of 17% compared to 7% annual growth of the global industry, and is expected to generate the third largest incremental growth. We also filed Decapinol^® in Japan. This is an important step forward towards commercialisation in the world´s second largest pharmaceutical market.