ProStrakan faces Abstral production shortage and FDA hold-up of Sancuso, as CEO resigns
Galashiels, Scotland-based specialty drugmaker ProStrakan Group (LSE: PSK) has provided investors with an update on the previously announced manufacturing status of Sancuso, a transdermal patch that delivers granisetron, and the company's discussions with the US Food and Drug Administration on its review of Abstral (fentanyl), which has been delayed by a request from the agency for additional information (The Pharma Letters August 18 and June 3).
This double dose of bad news, along with the resignation of the drugmakers chief executive, caused a 32.5% nosedive to 53 pence in the company's stock, and Piper Jaffray analys Sam Fazeli commented that ProStrakan may have trouble meeting its debt obligations.
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