Valeant Pharmaceuticals Announces License of Aczone (dapsone) Gel 5% In Canada
MISSISSAUGA, Ontario, Feb. 8, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) today announced that its subsidiary, Biovail Laboratories International SRL (BLS), has entered into an agreement to license the Canadian rights to ACZONE® (dapsone) Gel 5%, a topical formulation of dapsone used in the treatment of acne vulgaris, from Allergan. Allergan will receive from BLS a CA$500,000 upfront payment to be followed by subsequent additional payments based on net sales.
"ACZONE® Gel is a strong addition to our Canadian business," said J. Michael Pearson, chief executive officer. "This compound was originally approved in 2006 and never launched into the Canadian marketplace, providing Valeant Canada with a unique opportunity to strengthen and enhance our dermatology portfolio in Canada."
About ACZONE® Gel
ACZONE® Gel is used to treat acne in patients 12 years of age and older. Acne is a skin condition characterized by the development of whiteheads, blackheads and other types of pimples. While acne can affect patients of any age, the condition is especially prevalent during adolescence.
Important Safety Information
ACZONE® Gel is indicated for the topical treatment of acne vulgaris. ACZONE® Gel is not for oral, ophthalmic, or intravaginal use. ACZONE® Gel is contraindicated in patients who are hypersensitive to dapsone or to any ingredient in the formulation or component of the container. Combination of ACZONE® Gel with trimethoprim/sulfamethoxazole (TMP/SMX) may increase the likelihood of hemolysis in patients with G6PD (glucose-6-phosphate dehydrogenase) deficiency. The most common events reported from the clinical trials with ACZONE® Gel include oiliness/peeling, dryness, and erythema. Serious adverse events reported in patients treated with ACZONE® Gel during clinical trials included but were not limited to severe pharyngitis, abdominal pain, severe vomiting, pancreatitis, suicide attempt, tonic clonic movements.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. More information about Valeant can be found at www.valeant.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding growth opportunities for Valeant's Canadian dermatology portfolio. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the U.S. Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
Laurie W. Little
SOURCE Valeant Pharmaceuticals International, Inc.
Posted: February 2011