Japanese pharma firm KHK to buy Scotland’s ProStrakan for £292 million
22 Feb 2011
Japanese pharmaceuticals group Kyowa Hakko Kirin Co (KHK) yesterday agreed to buy Scottish specialty pharmaceutical company ProStrakan, for £292 million in a bid to expand its cancer treatment drugs in the US and Europe.
KHK expects the acquisition to provide it with an established European and US marketing and sales platform together with a portfolio of proprietary products.
Based in Galashiels, UK, ProStrakan is a specialty pharmaceutical company engaged in the development and commercialisation of prescription medicines for the treatment of unmet therapeutic needs in major markets.
ProStrakan's flagship drugs are Abstral, used for immediate pain relief to cancer patients and Sancuso, for stopping nausea and vomiting in patients undergoing chemotherapy and osteoporosis drug Adcal-D3. ProStrakan's initial expansion across Europe came through a combination of organic growth and targeted acquisitions.
Following its entry into the US in 2008, ProStrakan now has an established infrastructure and sales presence across both Europe and the US, supported by a portfolio of proprietary products.
ProStrakan's development facilities are located in Galashiels and New Jersey, US, while its sales and marketing is handled by commercial subsidiaries in the UK, US, France, Germany, Spain, Italy and other EU countries.