* Sees delay in EU launch of Sancuso - CEO
* Expects to launch 20 products in 2010 with partners
* Says Abstral, Sancuso to drive growth
* Sees US launch of Abstral in H2
(Recasts; adds CEO's comments)
By Aditi Samajpati
BANGALORE, March 18 Scottish speciality
pharmaceutical firm ProStrakan PSK.L posted a narrower
full-year loss, helped by strong European sales of its
breakthrough cancer-pain drug Abstral, and said it saw the U.S.
launch of the drug in the second half of 2010.
The company, which markets drugs for age-related diseases
and cancer, also expects its anal-fissure pain drug Rectogesic
to be launched in the United States later in the year.
"On the international partnering side, we have 20 new
product launches in 2010. The next few years are going to be
about launching the pipeline and driving revenue," Chief
Executive Wilson Totten told Reuters.
ProStrakan, which expects partner Endo Pharmaceuticals
(ENDP.O) to refile its Fortesta testosterone gel in the United
States by mid 2010, however, sees a delay in the European
marketing approval of Sancuso, a transdermal patch used in
"I think it will be more than one year before Sancuso is
launched in Europe," Totten said.
Earlier, the European launch of Sancuso was expected in
2010. The patch is already available in the United States.
"Between Abstral and Sancuso, they have the potential of
generating another $200 million plus of revenue in the coming
years. That is going to be a strong driver for us," he said.
For the year to end-December, the company posted a pretax
loss of 15 million pounds ($23 million), compared with 21.3
million pounds a year ago.
Revenue rose 40.8 percent to 79 million pounds. Abstral,
which was launched in UK, Germany, France and Spain in 2009,
booked sales of 5.8 million pounds.
The company ended 2009 with 19 million pounds in cash, down
from 34.7 million a year ago.
ProStrakan shares were up 2.7 percent at 105.5 pence at
1106 GMT on Thursday on the London Stock Exchange.
(Reporting by Aditi Samajpati; Editing by Unnikrishnan Nair
and Gopakumar Warrier)