ProStrakan launches sales venture with Orexo

ProStrakan has announced that it has signed a joint-venture agreement with Swedish pharmaceutical firm Orexo.

This agreement will see the firms partner for the marketing and distribution of the products of both companies in Denmark, Finland, Iceland, Norway and Sweden.

As part of the deal, Orexo will purchase half of ProStrakan’s Swedish affiliate – ProStrakan AB – for 1.3 million pounds, with the company initially retaining this name and operating from its Malmo offices.

ProStrakan has entered into an agreement with ProStrakan AB to exclusively supply the firm with a number of drugs for marketing in the aforementioned Nordic countries, including Droperidol, Rapinyl, Rectogesic, Sancuso and Tostrex.

Dr Wilson Totten, chief executive of ProStrakan, said: “The Nordic countries are very important to ProStrakan and teaming up with Orexo will considerably boost the ability of both companies to enhance our performance in this market and increase sales.”

“Orexo is an ambitious, fast-growing and successful business and it makes for a complementary partner for ProStrakan in this venture.”

He added that this partnership agreement denotes an increased development of the company’s European distribution network and guarantees an effective and efficient marketing of its products to increase their access to more patients in Europe.

In December 2006, ProStrakan announced the sale of its drug-discovery unit ProSkelia to Galapagos for 45 million euros (30.21 million pounds) in order to better focus on its speciality pharmaceutical model.