ProStrakan reports strong progress for 2007

Following the release of its preliminary results for the year ending December 31st 2007, ProStrakan has reported strong progress.

Financial highlights include product sales up 22 per cent to 40.9 million pounds and total revenues up 19 per cent to 45.6 million pounds.

The speciality pharmaceutical firm also confirmed that gross profit had increased by 28 per cent to 29.4 million pounds while operating loss had been cut by three per cent to 17.7 million pounds.

Growth in 2007 was supported by strong performances for its pan-European products Tostran, Rectogesic and Droperidol.

ProStrakan also highlighted promising regulatory applications for a number of candidates including a European Marketing Authorisation Application for Sancuso with a European launch expected in 2009.

Commenting on the results, ProStrakan’s chief executive officer Dr Wilson Totten indicated that the company had reached a “pivotal point” in its development.

“In 2007, with the creation of a sales and marketing infrastructure in the US, we put in place the last of the building blocks that will provide the platform for our future growth.”

Earlier this month, ProStrakan announced that Rapinyl had received marketing authorisation in Sweden as a treatment for breakthrough cancer pain.