Sol-Gel Technologies Announces Collaborative Agreement for Generic Product with Perrigo

Sol-Gel Technologies (NASDAQ:SLGL) a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced it has entered into a collaborative agreement with Perrigo Israel, an affiliate of Perrigo Company (NYSE; TASE:PRGO), for the development, manufacturing and commercialization of a generic product candidate.

As quoted in the press release:

Under the terms of the agreement, Perrigo will conduct the regulatory, scientific, clinical and technical activities necessary to develop the generic product candidate and seek regulatory approval with the U.S Food and Drug Administration (“FDA”). If approved by the FDA, Perrigo has agreed to commercialize the generic product candidate in the United States. Sol-Gel and Perrigo will share the development costs and the gross profits generated from the sales of the generic product candidate, if approved.

“The expansion of our generic product agreement with Perrigo is another important step in advancing our generic business.  Our generic business includes ivermectin cream, 1%, sponsored by Perrigo, for which we have the FDA’s tentative approval as of January 29, 2018, and five generic drug candidates, three of which are being developed with Perrigo and one being developed with Douglas Pharmaceuticals,” stated Dr. Alon Seri-Levy, Chief Executive Officer of Sol-Gel.

Click here to read the full press release.