ProStrakan reports ‘strong progress’

ProStrakan has issued a business and trading update for the year ended December 31st 2007, with the company reporting “strong progress” in this pre-close business update ahead of the publication of its preliminary results in March.

The firm reported accelerated revenue growth, with total revenues increasing by 18 per cent on the back of a 22 per cent rise in product sales over 2006 levels, with the company boasting strong growth in Tostran, Rectogesic and Droperidol, all recently launched in Europe.

ProSrakan added that the enrolment for the phase III clinical trial for Tostran in the US was now complete, with recruitment for volunteers in the Rectogesic trial also progressing, while the firm expects to launch Rapinyl in Europe by the end of the year.

Dr Wilson Totten, chief executive officer of ProStrakan, said: “ProStrakan has made further strong progress in 2007.

“Sales of our recently launched pan-European products are now starting to generate some real growth momentum.”

He added that the company is anticipating positive news from both US and European regulatory bodies during 2008 regarding a number of its products currently in development.

In April 2007, ProStrakan announced the appointment of Paul Garvey as chief financial officer of the company, replacing Adrian Gardener in the position.