Scotland business

ProStrakan completes acquisition of Archimedes Pharma

Sancuso patch Image copyright Other
Image caption ProStrakan's products include an anti-nausea skin patch for cancer patients

Borders-based drugs firm ProStrakan has announced that it has completed its acquisition of cancer pain specialist Archimedes Pharma.

The Galashiels firm, which is a subsidiary of Japanese pharmaceutical company Kyowa Hakko Kirin (KHK), bought Archimedes for £230m in cash.

The deal was concluded after being cleared by regulators in Germany.

Archimedes' main product is a fentanyl nasal spray, used in managing cancer pain in patients.

ProStrakan, whose products include an anti-nausea skin patch for cancer patients, said the transaction would expand its businesses in four of the largest European markets - the UK, France, Germany and Spain.

Chief executive Tom Stratford said: "Completing this acquisition is an important step in our strategy to expand our presence in Europe and I am confident that together we can further accelerate the success of our European operations."

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