Page last updated at 11:31 GMT, Thursday, 2 July 2009 12:31 UK

Drug companies avoid legal battle

Prostrakan 'pleased' dispute has been settled

Drugs firm ProStrakan has paid nearly £8m for a tax bill to Aventis Pharma to avoid a legal battle for the firms.

The dispute arose after ProStrakan bought a drug discovery subsidiary from Aventis in 2004 and then sold it on two years later to a Belgian company.

This triggered a possible tax liability for Aventis and the two companies have been in dispute about the bill.

With the dispute settled, ProStrakan said it remained focused on breaking even before the end of 2009.

Print Sponsor

Drugs company revenue rises 40%
14 May 09 |  South of Scotland
Drugs firm upbeat despite losses
18 Mar 09 |  South of Scotland
Cancer pain drug deals approved
02 Mar 09 |  South of Scotland
US market launch for cancer patch
03 Nov 08 |  South of Scotland
Cancer patch firm secures US deal
15 Sep 08 |  South of Scotland
Borders firm nets 74m drug deal
28 Sep 06 |  South of Scotland

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific