Sol-Gel Technologies Announces Sixth Agreement for a Generic Product Candidate 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 sixth collaborative agreement with Perrigo Israel, an affiliate of Perrigo (NYSE;TASE:PRGO), for the development, manufacturing and commercialization of a generic product candidate.

As quoted in the press release:

Consistent with Sol-Gel’s prior agreements with Perrigo, Perrigo will seek regulatory approval with the U.S. Food and Drug Administration (“FDA”) for this generic product candidate. 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.

“Sol-Gel anticipates that building a portfolio of generic product candidates with favorable commercial agreements can supplement its branded pipeline and potentially have a meaningful contribution to the Company’s operating income,” stated Alon Seri-Levy, Chief Executive Officer of Sol-Gel. “This strategy first came to fruition last January when Perrigo received tentative approval from the FDA for ivermectin cream, 1%, developed in collaboration with Sol-Gel.  Perrigo was second to file and, as of today, has the only reported tentative approval for ivermectin cream, 1%, and there is no public disclosure of a third filer to the FDA,” added Dr. Seri-Levy.

Click here to read the full press release.