PROSTRAKAN has formally completed its £230 million deal for European pharmaceutical rival Archimedes Pharma.

It comes after the Scottish company, which employs around 100 of its 300 staff at its headquarters in Galashiels, received the go-ahead to finalise the transaction from anti-trust authorities in Germany.

Archimedes, which is being sold by Danish private equity firm Novo, has its headquarters in Reading, a facility in Nottingham and a sales and marketing presence across Europe.

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