ProStraken appoints Numis Securities Limited
6 April 2009 00:00 in Pharmaceutical Company Restructures
ProStraken has appointed Numis Securities Limited as joint corporate broker.
With immediate effect, it will work alongside Morgan Stanley Securities, which will also remain in this role.
The pharmaceutical company, which employs around 200 people, asserted it is "pleased" with the selection.
Last month, ProStraken released its unaudited preliminary results for 2008, which showed product sales increased by 32 per cent to 53.8 million pounds and total revenues were 56.1 million pounds ? a growth of 23 per cent.
Dr Wilson Totten, chief executive of the firm, said the last 12 months had been excellent for business.
"We finished the year with a very strong cash position, maintaining our target of reaching break-even later in 2009 without the need for further fundraising," he remarked.
In 2009, the firm hopes to achieve further sales growth from additional European Union Abstral launches, Dr Totten concluded.
With commercial operations throughout the UK and Europe, ProStraken's headquarters are in Scotland. Its research and development group is located at Galashiels.
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