ProStrakan considering takeover approaches
Since an earlier approach from 12.6% shareholder Norgine which was rejected on the grounds that it undervalued the Company, the Board says there have been other expressions of interest both in the Company and its assets, which it is beginning to evaluate.
For the first ten months of the year,the pharmaceutical company has reported that its revenue was up 20% at £76.8m, an increase of 22% at constant currency.
In its IMS, the group said product revenues had increased by 24% to £74.1m, with sales growth in the EU and US and from its partners.
Chairman Peter Allen comments: "We fully expect that the manufacturing issues with Sancuso and the approval of Abstral in the US will be concluded this year so that revenues from both products will start early in the New Year.
"Further we believe that Endo is confident of approval of Fortesta in the US for launch in the first quarter 2011. "
Near the close of the day, the shares were 2.0p higher at 94.5p.
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