Mylan Penederm acquisition
This article was originally published in The Tan Sheet
Executive Summary
For $205 mil. brings a pipeline of four products using Penederm's TopiCare liquid polymer topical drug delivery technology, the most advanced of which is an antifungal/steroid 501 cream (butenafine 1%/betamethasone .064%), which may treat skin fungal disorders in seven days. An NDA is slated for filing in the second half. In Phase III is a topical butenafine for nail fungus for which Penederm is partnering with Schering-Plough in the U.S. Earlier-stage products include a vitamin D analog for psoriasis in (Phase II) and an acne and photoaging vitamin D treatment (Phase I). SmithKline Beecham uses TopiCare in an OTC dry skin product sold in Europe, and Penederm has a licensing deal with Warner-Lambert for an OTC dry skin therapy in Canada. With the purchase, Mylan also gains three Rx Penederm products that could be possible switch candidates: Ativa for acne, Mentax antifungal and Acticin for scabies...
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