Prostrakan Share Discussion Threads

[smallgiraffe] 30/12/2010 09:39

top up time I reakon

[cliley454] 30/12/2010 08:18

Great news, should see the share price test new highs.

Off topic take a look at FTS, they announced completion of a deal after hours last night that gives them cash equal to market cap and a possible divi on the cards, DYOR.

[stephanie_m] 30/12/2010 07:15

Excellent News

s

RNS Number : 6880Y

ProStrakan Group plc

30 December 2010

ProStrakan Group plc

ProStrakan's FORTESTA Receives US FDA Approval

Galashiels, UK. 30th December, 2010 - ProStrakan Group plc (LSE: PSK), the international specialty pharmaceutical company, today announces that approval has been received from the US Food and Drug Administration (FDA) for FORTESTA(TM) (testosterone) Gel. Endo Pharmaceuticals Inc. (NASDAQ: ENDP), with whom ProStrakan has partnered for this product in the US, now plans to launch FORTESTA in early 2011.

FDA approval of FORTESTA has now triggered an approval milestone payment from Endo of $12.5m.

ProStrakan plans to include further technical details concerning this approval in its market update scheduled for early January 2011.

General Meeting

On 16th December, ProStrakan announced that it plans to enter into a new strategic relationship with Paladin Labs Inc. ("Paladin") in which Paladin will acquire, by way of assignment, ProStrakan's existing GBP50m secured debt facility, with the addition of certain conversion rights, and will be granted an exclusive licence to ProStrakan's products for certain emerging territories ("the Proposals"). A shareholder circular has been sent to the Group's shareholders as the Proposals are conditional upon, amongst other things, the approval of ProStrakan's shareholders being obtained at a General Meeting to be held on 7th January 2011.

Shareholders should note that, in relation to the option described in the announcement and circular referred to above, in terms of which the Company could require Paladin to purchase its Xomolix product (and related intellectual property and other assets) at a fixed price based on a multiple of 12 months' net sales, now that FDA approval of FORTESTA has been secured, this option will lapse unexercised.

Offer Update

As announced by the Company on 15th November 2010, the Board has received expressions of interest in the Company and its assets which it is evaluating. The process of evaluating these expressions of interest is at a preliminary stage and the Company cannot provide any further information in relation to a potential offeror or offerors or any information in relation to any potential offer.

Enquiries:


ProStrakan [phone]
Callum Spreng, Corporate Communications
--------------------

Brunswick Group [phone]
5959
--------------------
Jon Coles / Justine McIlroy
--------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

[stephanie_m] 22/11/2010 06:03

Takeout in excess of £1.40?

s

[craigends] 16/11/2010 16:25

Times article (today) claims PSK has 'rejected' Norgine offer to buy (too low)!
So where do we go from here? would expect Company statement if this the case.

[farmsted] 16/11/2010 14:13

Now whats happening ??

[craigends] 15/11/2010 14:34

Will they buy this time -reckon debt is main driver for PSK to accept -hopefully at higher share price than market showing - on the day possible bid announced a relatively small rise!

[nineteenninetynine] 15/11/2010 09:15

wow thats well cheap... easily doble up holdings at these prices :)

c ya :-)

[stephanie_m] 15/11/2010 09:14

Moving up nicely . Up 5.1% at present.

More to follow.

Current price 95.75p / 97.25p

s

[ricartonl] 15/11/2010 09:01

Things looking quite positive

- Potential bid & other interested parties
- Revenue increasing strongly
- Debt restructuring
- share price looking good

[youwould] 11/11/2010 16:52

I still see this as positive.... Aventis' holdings were in settlement of an IP issue I think. Now a company has paid good money for them so they clearly have positive (at least financial) plans......

.....and on ttop of this, we still await an approval of the REMS for Abstral in the US, a new CEO and the re-commencement of production of Sancuso.....

[craigends] 09/11/2010 15:43

Agree 'youwould' -it looks like interbusiness buy - but reason why we need to know.
Personally hope this leads to buy out as company seems to need new management injection! A look at their USA web site would lead reviewers to think they had gone out of business in 2009. Other major holders do not seem into Pharmas, so maybe Norgrene is the hope.

[youwould] 09/11/2010 12:03

Takeover could follow......but by who? Norgine have bought the same amount as Aventis Pharma owned....will be interesting to see if it is Aventis that have sold or if this is a statement of intent from a second medium sized pharma co which could lead to a bidding war in the case of a takeover.....Large proportion of shares are still firmly held by PE company though so anything could happen with them for the right price....

I see this as a 4th piece of (unforeseen) good news on the road to elevating the price back up above £1.50 within the near to mid term.... ProStrakan are a promising company with a good portfolio......

Y

ps, thanks Norgine, you just payed for my holiday....

[stephanie_m] 09/11/2010 08:31

Surprised that this share has little following on the BB. Currently up 20.5% on news that 12.6% of the shares changed hands yesterday at 95p. Takeover could follow..

s

[stephanie_m] 09/11/2010 08:10

Up 18% on opening.

s

[the_doctor] 09/11/2010 07:26

Could they not have just got away with a holdings RNS?

[club45club45] 09/11/2010 00:54

A movement of 12.6% of the shares is worthy of an RNS even though there may be no regulation.

[the_doctor] 08/11/2010 22:36

who did they get them from?

out of interest, how come they issued that RNS?
what regulation requires it? (presumably one does)

[stephanie_m] 08/11/2010 21:07

PSK closed at 71.5p

25,515,873 (12.6%) changed hands at 17.05hrs at a price of 95p

Expect some activity in the morning.

s

[craigends] 29/9/2010 15:23

SP making steady progress - who knows what?
Is there a white night out there! After all in a tough product market loss of production must impact on sales/income....
Still awaiting all 3 items in 'youwould's' post above, and Abstral well overdue for clearance.

[youwould] 23/9/2010 15:38

At this price PSK is a v good investment - at least 3 lots of positive news in pipeline: 1) Back in Production 2) New CEO announcement 3) Abstral approval in US..... This will be back over £1.40 by year end.......

[trjones2] 23/9/2010 13:09

something going on behind the scenes,more sells gone through but price is blue,could be back in production sooner than rns stated.

[jdung] 14/9/2010 15:54

today some one buy at 47p, you should noted that,

why the price drop to down ? waiting big size of trader coming as soon,
then think buy or sell.

it is safe to play at market.