Drugs firm upbeat despite losses

The Sancuso patch recently received approval in the US

A Scottish pharmaceutical firm has forecast rapid future growth despite making a £20m pre-tax loss last year.

Galashiels-based ProStrakan said 2008 had been an "excellent year" for the company with product sales rising 32% and total revenue up 23%.

Chief Executive Dr Wilson Totten said he was confident the firm would reach a break-even position this year.

He added that deals for a number of its products could underpin business growth in both the US and Europe.

The Borders company's preliminary results for last year show a pre-tax loss of £21.3m compared with a £17.6m loss in 2007.

'Major milestone'

However, both product sales and total revenues have risen significantly.

The US launch of Sancuso - a skin patch to combat nausea in patients undergoing chemotherapy - was seen as a "major milestone" for the company.

It also hopes to see further expansion in sales of its cancer pain-relief treatment Abstral.

As well as unveiling its 2008 results, ProStrakan also announced another co-promotion deal in the US for a mouth gel for people receiving chemotherapy.