TARO PHARMACEUTICALS ACQUIRES TIAMOL FOR U.S./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 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.
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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|Comment:||TARO PHARMACEUTICALS ACQUIRES TIAMOL FOR U.S./CANADA.|
|Date:||Sep 1, 2000|
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