ProStrakan announces six-month results

ProStrakan has announced its financial results for the six-moth period ended June 2008.

The company said the first six months of the year were marked by significant levels of activity in terms of product development, out-licensing activity and sales growth.

Total revenues for the half rose 26 per cent year on year to 26.4 million pounds on the back of a 37 per cent rise in product sales to 25.4 million.

Gross profit rose 16 per cent to 16 million pounds, while operating loss prior to a one-off impairment falling 13 per cent to 7.6 million pounds.

In Europe, sales of Tostran (testosterone gel), Rectogesic (glyceryl trinitrate) and Xomolix (droperidol) rose by 73 per cent, while sales of Adcal D3 rose by 17 per cent.

Dr Wilson Totten, chief executive of the company, said: “The first half of 2008 has seen one of the most active and successful periods in ProStrakan’s history as we continued to roll out our growth strategy.”

He added the company has seen its European products and businesses establish themselves across the EU.

In March 2008, ProStrakan said the company’s full-year preliminary results for 2007 showed strong progress, with a 19 per cent rise in total revenues to 45.6 million pounds.