Perrigo Company (Nasdaq:PRGO; TASE:PRGO) and Cobrek Pharmaceuticals Inc. have obtained final US Food and Drug Administration (FDA) approval for its generic version of Extina Ketoconazole Foam, 2%, for the treatment of seborrheic dermatitis in people over 12.
Brand Extina Ketoconazole Foam has $10 million in annual sales in the US. Perrigo has begun shipments and will have 180 days exclusivity for its generic version.
Seborrheic dermatitis is a chronic inflammatory skin disease that affects parts of the face around the eyebrows, nose and ears, and can sometimes spread to the chest and back. It causes redness and dryness of the skin and commonly afflicts men more than women.
Perrigo chairman and CEO Joseph Papa said, "This launch reflects our continuing investment in new products. It is an example of the excellent partnership we have with Cobrek for developing foam products which is a key product category for our Rx business."
Perrigo's share price declined 0.1% at the opening on Nasdaq today to $93.51, giving a market cap of $8.69 billion, after remaining flat on the TASE at NIS 333.80.
Published by Globes [online], Israel business news - www.globes-online.com - on August 30, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011