Sales up at bid target ProStrakan

ProStrakan, the pharmaceutical firm that has agreed to be bought by Japan’s Kyowa Hakko Kirin, narrowed its full-year loss after bouncing back from manufacturing problems. The Scottish firm reported a pre-tax loss of £600,000 against a loss of £15m a year ago, after a 27 per cent jump in revenues. ProStrakan reiterated that the £292m takeover bid fully valued the business.