ProStrakan and Ferring sign licensing deal

Galashiels, Scotland-based drugmaker ProStrakan says that it has signed an agreement with Switzerland's Ferring, which covers the distribution of both Rectogesic (glyceryl trintrate ointment) and Tostran (testosterone gel) in central and eastern Europe, Russia and the Commonwealth of Independant States.

Under the terms of the deal, ProStrakan is entitled to an undisclosed upfront payment in return for supplying both products to the Swiss firm for an agreed transfer price. The Scottish company explained that the products, which have been launched in UK and Sweden, will enter the market in other European countries based on approval under the European Union mutual recognition procedure, completed earlier in the year.

Prostrakan added that, in addition to the Ferring deal, it has entered into similar agreements with other partners covering the distribution of Rectogesic and Tostran in Ireland, Greece and Turkey. The firm said the licensing deals it has established would allow it to focus on selling the products in the USA and western Europe.