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news.Swedish pharmaceutical company Orexo has entered into a joint venture agreement with UK-based ProStrakan in the Nordic territories in order to establish a sales operation, which will be owned equally.
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The new entity will have Nordic sales rights for both Orexo’s and ProStrakan’s portfolio including Tostrex, Rectogesic and Droperidol, followed by Rapinyl, Orexo’s patented product for the treatment of cancer break through pain and ProStrakan’s product Sancuso for the prevention of chemotherapy-induced nausea and vomiting.
ProStrakan’s existing Swedish affiliate, ProStrakan AB, will be used as the joint venture company. Orexo is investing GBP1.3 million (SEK 17.9 million), through a directed share issue, to acquire 50% of it. The joint venture company will initially trade as ProStrakan AB from its offices located at Malmo, Sweden.
Orexo has grown over the past years by focusing on developing proprietary pharmaceuticals to address areas of unmet therapeutic need. This next phase in its development will enable Orexo’s products, at launch, to immediately benefit from an established sales force in the Nordic region.