Pharmaceutical firm Perrigo Company (Nasdaq:PRGO; TASE:PRGO) said it has received final approval from the US Food and Drug Administration (FDA) for its version of a Sanofi-Aventis acne medication, Klaron.
Perrigo can begin to market Sulfacetamide Sodium Topical Suspension, 10% (Lotion). Perrigo's version is therapeutically equivalent to the Klaron (10%) lotion developed by Sanofi-Aventis. Klaron is used for the topical treatment of acne.
Klaron lotion had sales of approximately $15 million for the 12 months ended January 2009, as measured by Wolters Kluwer Health.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) also received FDA approval last week for an acne treatment, Solodyn, but reached an agreement with Medicis, the developer, to wait until 2011 to market its version, in return for Medicis dropping legal claims against Teva.
Perrigo chairman and CEO Joseph C. Papa said, "This approval is another example of our commitment to invest in and bring new products to market. It further demonstrates our strategy to deliver quality affordable healthcare both behind and over the counter."
Perrigo develops, manufactures, and sells over the counter and generic prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products.
Shares in Perrigo closed at $22.95, up 2.8%. Its market cap is $2.11 billion.