Dr. Reddy’s Laboratories Ltd. announced today that its wholly owned subsidiary Promius Pharma, LLC, has sold its rights of Cloderm® Cream, 0.1% and its authorized generic to EPI Health, LLC, an affiliate of EPI Group, LLC.
Under the terms of the agreement, Promius Pharma is eligible to receive an upfront payment followed by future royalties as the consideration for Cloderm® Cream and its authorized generic in the United States, effective immediately.
“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,” says Anil Namboodiripad, Ph.D., Senior Vice President, Proprietary Products, and President, Promius Pharma.
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 authorized generic, are widely recognized 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.”
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Date: October 8, 2018
Source: BusinessWire
