TARO PHARMACEUTICALS ACQUIRES TIAMOL FOR U.S./CANADA.Taro Pharmaceutical Industries Ltd. (NASDAQ/NMS:TARO) has reported that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Taro Pharmaceuticals North America, Inc., Hawthorne, N.Y., has acquired the U.S. Abbreviated New Drug Application abbreviated new drug application Pharmacology An application made in the US by a pharmaceutical company requesting authority to market a 'new' drug for which both its therapeutic indications and formulation were previously approved by the FDA in another similar ("ANDA ANDA abbr. abbreviated new drug application ") for Fluocinonide Emollient emollient /emol·li·ent/ (e-mol´yent) 1. softening or soothing. 2. an agent that softens or soothes the skin, or soothes an irritated internal surface. e·mol·lient adj. Cream USP USP - unique sales point , 0.05% ("Fluocinonide E") and the Canadian Abbreviated New Drug Submission ("ANDS") to Tiamol(R) (Fluocinonide Emollient Cream USP, 0.05%) in Canada. The products were acquired from the Canadian pharmaceutical company Draxis Health, Inc. Fluocinonide E Cream in the U.S. Taro has manufactured and distributed Fluocinonide E Cream for the U.S. and Canadian market under a license agreement with Draxis for over ten years. Fluocinonide E Cream is bioequivalent bi·o·e·quiv·a·lent n. A value indicating the rate at which a substance enters the bloodstream and becomes available to the body. to Medicis' Lidex(R), and the market for this product is estimated by industry sources to be approximately $5,000,000. Fluocinonide E Cream is part of Taro's generic Fluocinonide line, which includes Fluocinonide Cream, Ointment, Solution and Emollient Cream. Taro will continue to market Fluocinonide E Cream as part of the Fluocinonide line. Tiamol in Canada As part of this transaction, Taro acquired the Canadian ANDS for Tiamol(R), Draxis' brand of Fluocinonide E Cream in Canada. The Canadian market for Fluocinonide E Cream is estimated by industry sources to be approximately $500,000. Taro will support the Tiamol(R) brand as part of its plan to launch a branded dermatologic product line in Canada. The company will draw on its strength as one of the leading manufacturers and marketers of dermatologic products in North America to spearhead its branded initiative. "Physicians have been prescribing Taro brands in Israel for fifty years," stated Barrie Levitt, M.D., chairman of the company. "The purchase of Tiamol(R) and the move into branded dermatologic products in Canada is consistent with our successful strategy of broadening our product line and market penetration in topical products." Taro currently has multiple international regulatory filings, and nine ANDAs submitted to 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. . Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., visit www.taropharma.com or call 914/345-9001. |
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