In October 2007, ProStrakan Group plc, a fast-growing European-based specialty pharmaceutical company, announced its intention to establish its first US sales force through a strategic alliance with NovaQuest. Dr. Wilson Totten, ProStrakan’s chief executive, said, “The establishment of a US sales force is a transforming step forward for ProStrakan and is the realization of a long-held ambition. Our own sales force, marketing our own product in the world’s largest market, will take ProStrakan onto a new level. The structure of this deal effectively balances out the risk for ProStrakan and enables us to take this important step while retaining our ambition of reaching break-even during 2009.”
Regulatory Focus 13:46-47, 2008.