Mylan acquires two dermatological drugs from Valeant

Feb 6 2012

Mylan Inc. (Nasdaq: MYL) today announced that it has successfully completed the acquisition of two dermatological products from Valeant Pharmaceuticals. Mylan has acquired the abbreviated new drug application (ANDA) for Clindamycin Phosphate / Benzoyl Peroxide Gel, which is the generic version of Valeant's BenzaClin^®. Mylan previously had manufactured and marketed the generic version of this product through a licensing agreement with Valeant. Mylan also has acquired a license to manufacture and market Fluorouracil 5% USP cream as the exclusive authorized generic to Valeant's Efudex^®. 

Mylan Chief Executive Officer Heather Bresch said: "The acquisition of these two products reflects Mylan's continued strategy of creating value through increasing our position in key therapeutic areas and dosage forms, such as dermatological topicals. Further, it allows us to expand our portfolio of difficult-to-manufacture or limited-competition products. We will continue to build on our existing portfolio and capabilities through opportunities such as these."

Clindamycin Phosphate / Benzoyl Peroxide Gel, 1%/5%, which is indicated for the topical treatment of acne vulgaris, had U.S. sales of approximately $205 million for the 12 months ending Dec. 31, 2011, according to IMS Health. Fluorouracil 5% USP cream, is recommended for the topical treatment of multiple actinic or solar keratoses and also indicated for the treatment of superficial basal cell carcinomas when conventional methods are impractical, had U.S. sales of approximately $79 million for the 12 months ending Dec. 31, 2011, according to IMS Health. The terms of Mylan's agreement with Valeant regarding these two products are confidential.