ProStrakan's 2007 sales exceed expectations

ProStrakan Group, a Galashiels, Scotland-based pharmaceutical company, says that sales in full-year 2007 rose 18%, exceeding expectations, due to better-than-expected licensing income. The group's full preliminary results are scheduled for March 13.

According to the Scottish drugmaker, 2007 saw accelerated revenue growth with product sales up 22% over 2006, driven by a strong performance from its pan-European products: Tostran (testosterone gel), Rectogesic (glyceryl trinitrate ointment), sold as Cellgesic in the USA and droperidol, which is indicated as a pre-medication for anesthesia, nausea after anesthesia or for the sedation of agitated patients. Income from these three drugs grew 45%.

Commenting on ProStrakan's prospects, Nomura Code analyst Samir Devani told the Financial Times that the firm "is in a unique position with three potential US product launches before end-2009. We expect these launches to double product sales in 2009 from current levels and take the company into profitability." One of these new products is Sancuso (transdermal granisetron), a patch for the prevention of chemotherapy-induced nausea and vomiting. Its New Drug Application is under review by the Food and Drug Administration, with a US launch planned for 2008.