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news.Valeant Pharmaceuticals International (Valeant) has entered into an agreement with Spear Pharmaceuticals (Spear) for rights to commercialize Refissa, a prescription-based topical tretinoin cream used to diminish fine wrinkles and fade irregular pigmentation due to sun damage.
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Valeant is expected to pay Spear a $12m upfront payment and the two companies will share net profits. Valeant will book sales and use its dermatology sales force to promote Refissa to dermatologists nationwide.
Michael Pearson, chairman and CEO of Valeant, said: “Our strategy is to offer a diverse portfolio of innovative, high quality products to dermatologists and their patients who want healthier looking skin. Refissa is the only 0.05% strength prescription tretinoin cream on the market that is fragrance-free and includes a moisturizing, emollient base that is proven to be clinically safe and effective. Adding this FDA approved product to our portfolio should present a solid growth opportunity for our dermatology franchise.”
KL Spear, dermatologist and president of Spear Pharmaceuticals, said: “This strategic partnership will allow us to maximise the commercial success of Refissa. Valeant’s well-regarded sales force will provide us with greater access to communicate and educate dermatologists about the benefits of Refissa, which is the only topical retinoid on the market approved for all three of the following indications: fine wrinkles, hyperpigmentation, and tactile roughness of the skin. I am excited to be working with a company as dedicated to the dermatology market as Valeant.”