HYDERABAD, India, and MISSISSAUGA, Ontario, April 1, 2011
/PRNewswire/ — Promius Pharma, LLC, an affiliate of Dr. Reddy’s
Laboratories (NYSE:
RDY), and Valeant Pharmaceuticals International, Inc. (NYSE:
VRX) (TSX: VRX) today jointly announced that they have signed a
collaboration agreement for Cloderm® (clocortolone pivalate
0.1%) Cream. Under the agreement, Promius Pharma will make an
upfront payment and pay future royalties as the consideration for
the right to manufacture, distribute and market Cloderm® Cream
in the United States, effective immediately. The financial
terms and conditions of the agreement have not been disclosed.
Raghav Chari, PhD, Senior Vice President, Proprietary Products
and Head of Promius Pharma, said, “We are very pleased to have
formed a partnership with Valeant to market Cloderm® Cream in
the United States, where Promius Pharma is building a strong
commercial and clinical presence. Cloderm® Cream is a
time-tested product and has strong recognition among
dermatologists. The addition of this product will bolster our
ongoing efforts to build a successful prescription branded
franchise in the US, and specifically contribute to Promius’ goal
to become a leader in the field of medical dermatology.”
About Cloderm® Cream
Cloderm® (clocortolone pivalate) Cream, 0.1% is a topical
mid potent steroid product indicated for the relief of the
inflammatory and pruritic manifestations of
corticosteroid-responsive dermatoses. Cloderm Cream is
available in a 45-gram and 90-gram tube, and in a 30-gram or
75-gram pump, by prescription only. For more information,
please contact your healthcare provider or Promius Pharma.
Important Safety Information
The most common adverse events ass
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