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New Jersey-based Promius Pharma, a wholly-owned subsidiary of Dr Reddy's Laboratories Ltd, has signed a collaborative pact with Valeant Pharmaceuticals International Inc for Cloderm cream used to treat skin diseases. According to the agreement, Promius Pharma would acquire the rights to manufacture, distribute and market Cloderm cream in the US by making ‘an upfront' payment with immediate effect.
The financial aspects of the deal were not being disclosed, the Hyderabad-based Dr Reddy's said in a release on Friday. Cloderm cream is a topical mid potent steroid product indicated for the relief of the inflammatory and pruritic manifestations of some types of skin diseases. “The addition of the product will bolster our ongoing efforts to build a successful prescription branded franchise in the US,'' Mr Raghav Chari, Senior Vice-President, Proprietary Products and head of Promius Pharma, said.
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