Pharmaceuticals Company ProStrakanis has a lot of hopes adhered to its anti-vomiting patch that it expects to starts retailing before the year-end. The firm speculates to fetch sales of up to $100 million (£64m) in the United States for its new patch.
However, the Company fears that its new patch may have the same destiny as that of Abstral in America.
The drug, which is already being retailed in Europe, had to face delay following the US Food & Drug Administration ruling of a three month extension in the review of the medicine.
Chief Executive, Dr Wilson Totten expressed his disappointment over the extension, but was happy to see stern reviews and new safety measures being introduced by the US Food & Drug Administration for ensuring safety concerns.
"I would have loved for it to be approved early but I think we'll still have a positive outcome in the coming months”, he posted. "In Europe, it's sold extremely well, with sales expected to reach $20m. In the US, it could be between $50m and $100m. It's a very significant opportunity for us".
The Company has recorded its earnings excluding interest, tax, depreciation and amortization to touch £1.2 million for the six months to the end of June, compared to a £4.3 million loss incurred the previous year. In addition, the firm grabbed a 23% rise in its revenue touching £45.4 million.