PROSTRAKAN, the Bordersbased biotech, yesterday said it had extended its commercial rights to two prescription medicines from US partner Cellegy Pharmaceuticals to Russia and other former Soviet Union countries.
The company said it secured the extra rights on Tostrex, a testosterone deficiency gel treatment, and Rectogesic, an ointment for the treatment of anal fissures, by changing the timing on milestone payments it will give to Cellegy on regulatory approvals.
Galashiels-based ProStrakan said the deal on Russia and the Commonwealth of Independent States does not entail any increase in the total amount it has to pay Cellegy.
ProStrakan acquired the EU commercialisation rights to Tostrex and Rectogesic from San Francisco-based drug developer Cellegy in 2004.
Tostrex is a testosterone gel product for male hypogonadism. It was launched in Sweden in September 2005 and has since achieved a 25-per cent share of the testosterone gel market.
Rectogesic is the only medicine licensed for treating pain associated with chronic anal fissures. Since its launch in the UK in May last year, it has built up annualised sales in excess of pounds-1.5m.
EU mutual recognition procedures for both medicines were concluded earlier this year, and local EU country marketing authorisations are now in the process of being issued.
In April, ProStrakan successfully concluded the European Union Mutual Recognition Procedure for Tostrex and said that national licences would be issued in due course in the 19 additional European countries included in the MRP application.
Rectogesic was given European approval in March.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article