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Hyderabad-based pharmaceutical giant, Dr Reddy’s Laboratories Ltd, has announced that Promius Pharma, LLC, its wholly owned subsidiary has sold its rights of Cloderm Cream, 0.1% and its authorised generic to EPI Health, LLC, a part of EPI Group, LLC.
According to the terms of the agreement, Promius Pharma is eligible to receive an upfront payment followed by royalties in the future as the consideration for Cloderm Cream and its authorised generic in the United States, with immediate effect.
Ron Owens, President of EPI Health, said, “We are very pleased to have completed this agreement with Dr. Reddy’s to acquire Cloderm Cream in the United States. Cloderm Cream and its authorised generic are widely recognised and time-tested among the dermatology community.”
“The addition of this product to our growing portfolio will support our ongoing efforts to build a successful prescription branded franchise in the United States while contributing to EPI Health’s goal of becoming a leader in medical dermatology,” he added.
Anil Namboodiripad, Senior Vice President, Proprietary Products and President, Promius Pharma said, “We look forward to EPI continuing to support Cloderm, a brand that providers have prescribed for several decades and find as an important treatment option for their patients.”
Cloderm Cream, 0.1 per cent was acquired by Dr Reddy from Valeant Pharmaceuticals in April 2011 for an undisclosed amount. It is a steroid cream which is used for the treatment of eczema and other skin diseases.
