East European deal for drugs firm

A Galashiels pharmaceutical firm has agreed a drugs distribution deal across central and eastern Europe.

ProStrakan reached the agreement with Hungarian firm Gedeon Richter for its cancer pain relief drug Rapinyl.

The deal covers Estonia, Latvia, Lithuania, Poland, Czech Republic, the Slovak Republic and Hungary.

It is another significant boost for the Borders firm which recently announced sales of £16m for the first six months of this year.

"As one of the largest pharmaceutical companies in central and eastern Europe, Gedeon Richter is the ideal partner for Rapinyl in this market," said ProStrakan CEO Dr Wilson Totten.

"By extending the product's reach into these territories, we generate short-term revenue for ProStrakan in the form of the upfront and approval milestones while increasing Rapinyl's future sales potential."