ProStrakan reports ‘strong’ half-year revenue growth

ProStrakan has published a business update for the six-month period ending June 2007, prior to the publication of its interim results this September.

The company has reported “strong” revenue growth, recording a 15 per cent increase in product sales compared to the same period last year, with revenues rising 28 per cent.

Driving this increase in sales was a growth of products recently launched across Europe, with a 43 per cent rise in sales of Droperidol, Rectogesic and Tostran.

Additionally, the company noted the completion in March of a secured debt facility of 50 million pounds, with the firm drawing down an initial sum of 20 million pounds.

Dr Wilson Totten, chief executive officer of ProStrakan, said: “We have a well-funded business in the transformational stages of launching a series of well-differentiated pan-EU products, which are expected to be the main drivers of revenue growth and margin improvement in the coming years.”

He added that the company had made “first-rate progress” during the first half of the year towards its aim of becoming a profitable and successful speciality worldwide pharmaceutical business.

In February 2007, ProStrakan announced its financial results for 2006, reporting a 22 per cent increase in revenue to 38.5 million pounds on the back of a 23 per cent increase in product sales.