ProStrakan sees losses fall 54% in 2005

UK-based speciality pharmaceuticals group ProStrakan says that it saw losses of L33.8 million ($40.9 million) in 2005, a 54% reduction on the L73.7 million reported for 2004. In addition, the group's revenue for the year was L31.6 million, up 47% on the L21.6 million it earned the previous year, the majority of which was derived from pharmaceutical sales.

Revenues were driven by the branded calcium and vitamin supplement Adcal D3, used as an adjunct therapy for osteoporsis, which grew 47% to L10.1 million during the year. Overall, the firm says that revenues from currently marketed products increased 21%, representing sustained organic expansion.

ProStrakan's chief executive, Wilson Totten, said that the majority of the growth had been from the acquisition of products, such the fentanyl-based cancer pain management drug Rapinyl from Sweden's Orexo AB, and corporate purchases including that of Germany's APS Pharma, that the company had carried out during 2005.