Penederm Licenses Two Prescription Skin Care Products to Allergan for Marketing in Central and South America.FOSTER CITY, Calif.--(BW HealthWire)--Nov. 12, 1997-- Penederm Will License Avita and Mentax to Allergan-Lok Produtos Penederm Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DERM n. 1. The integument of animal; the skin. 2. (Anat.) See Dermis. ) announced today that it has licensed two topical pharmaceutical products to Allergan-Lok Produtos Pharmaceuticos, Ltda., a Brazilian subsidiary of Allergan Inc. (NYSE NYSE See: New York Stock Exchange :AGN AGN Again (Amateur Radio) AGN Active Galactic Nucleus AGN Acute Glomerulonephritis AGN Accountants Global Network AGN Air Gabon (ICAO code) ). Under the terms of the agreement, Allergan-Lok Produtos will pursue regulatory approval of the products and pay milestones and royalties to Penederm in exchange for the licenses to manufacture and market the products in Central and South America. The prescription products licensed include Penederm's butenafine topical anitfungal cream product and its retinoic acid retinoic acid /ret·i·no·ic ac·id/ (ret?i-no´ik) an oxidized derivative of retinol, believed to be the form of vitamin A that plays a role in the development and growth of bone and in the maintenance of normal epithelial structures. cream acne treatment sold in the United States under the trade names Mentax(R) and Avita(TM), respectively. Mentax is Penederm's lead anitfungal product containing butenafine HCl 1% cream. Mentax was launched in the United States in the first quarter of 1997 for the treatment of three of the most common skin fungal infections: tinea pedis tinea ped·is n. See athlete's foot. Tinea pedis Fungal infection of the feet of the skin characterized by dry, scaly lesions. (athlete's foot), tinea corporis (ringworn) and tinea cruris (groin fungus). The Avita product incorporates Penederm's patented TopiCare Delivery Compound(R) technology. Avita cream formulation was launched in the United States in Aug. 1997. "This is a continuation of our strategy to out license our products to partners with strong distribution capabilities outside the United States," stated Lloyd H. Malchow, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Penederm. "Allergan is an appropriate partner for bringing our pharmaceutical products to these markets because of the significant presence in Central and South America they have built through acquisitions of regional dermatology companies together with their long-standing commitment to dermatology." Allergan Inc. headquartered in Irvine, Calif., is a technology-driven, global health care company, focused on specialty pharmaceutical products for specific disease areas that deliver value to customers, satisfy unmet medical needs and improve patients' lives. Penederm is a pharmaceutical company that specializes in development and marketing of dermatology products. Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks of product nonapproval or delays or post-approval reviews by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. or foreign regulatory authorities, the results of current and future licensing and other collaborative relationships, product development and market acceptance risks, product manufacturing risks, risks associated with the establishment and management of a contract sales force, the impact of competitive products and pricing, the results of financing efforts, developments regarding intellectual property rights and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and other risks identified in the company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undo reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. CONTACT: Penederm Inc. Michael A. Bates Bates , Katherine Lee 1859-1929. American educator and writer best known for her poem "America the Beautiful," written in 1893 and revised in 1904 and 1911. , 415/358-0100 Recent news: www.businesswire.com/cnn/derm.htm or Allergan Inc. Jeff D'Eliscu, 714/246-4636 or Feinstein Kean Partners Inc. (Media Contact) Doug MacDougall, 617/577-8110 |
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