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Dr Reddy’s Laboratories Ltd, the Hyderabad-based pharmaceutical major, has announced that its wholly owned subsidiary Promius Pharma, LLC, has sold its rights of Cloderm (clocortolone pivalate) Cream, 0.1% and its authorised 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 authorised generic in the United States, effective immediately.
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."
EPI Group, LLC is a privately held company, headquartered in Charleston, South Carolina, with over 2,000 employees.
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