Watson Pharmaceuticals Announces FDA Approval For Condylox(R) GelCORONA, Calif., March 17 /PRNewswire/ -- Watson Pharmaceuticals, Inc. (Nasdaq: WATS) announced today that its wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , Oclassen Pharmaceuticals, Inc., has received approval from the Food and Drug Administration (FDA) to market Condylox(R) Gel 0.5% (podofilox) for the treatment of external genital and perianal perianal
around the anus.
under the skin outside the anal canal. Causes sufficient pain to inhibit defecation. warts (condyloma acuminata). The product is expected to be launched in the second quarter of fiscal 1997.
In 1991, Oclassen introduced Condylox(R) (podofilox) Topical Solution 0.5%, the first at-home prescription therapy for the treatment of external genital warts. Sales of Condylox(R) Topical Solution were approximately $10 million in 1996. It is believed that Condylox(R) Gel offers two important advancements over the topical solution: easy, finger-tip application and an expanded perianal wart indication. "Condylox(R) changed the way condyloma condyloma /con·dy·lo·ma/ (kon?di-lo´mah) pl. condylo´mata an elevated lesion of the skin.condylo´matous
condyloma acumina´tum pl. was treated," stated Glenn Oclassen, founder of Oclassen Pharmaceuticals. "Condylox(R) Gel offers the same efficacy and safety as the solution, but it is easier to apply."
"The approval of Condylox(R) Gel illustrates our continued expansion of our branded products division," stated Dr. Allen Chao, Chairman and Chief Executive Officer of Watson Pharmaceuticals. "As we continue to grow our branded division, we expect Oclassen's product development and marketing expertise to be very valuable in addressing the $2 billion Rx dermatology market. This product will be marketed by Oclassen's seasoned sales force consisting of approximately 60 sales and marketing professionals."
Oclassen Pharmaceuticals, Inc., a wholly-owned subsidiary of Watson Pharmaceuticals, is dedicated to the development and acquisition of unique proprietary dermatological products.
Watson Pharmaceuticals, Inc., headquartered in Corona, CA, is engaged in the manufacture and sale of off-patent medications and branded pharmaceutical products.
SOURCE Watson Pharmaceuticals Inc.
/CONTACT: Allen Chao, Ph.D., Chairman and Chief Executive Officer of Watson Pharmaceuticals, 909-270-1400; or Jill Katinger, 909-270-1400, ext. 4112, both of Watson Pharmaceuticals; or Lisa Laukkanen, Laura Guerrant or Doug Sherk, 415-296-7383, or David Sasso or Josh Passman, 212-850-5698, all of Morgen-Walke Associates, Inc./
CO: Watson Pharmaceuticals Inc.; Oclassen Pharmaceuticals Inc. ST: California IN: MTC mtc - A Modula-2 to C translator.
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