DOYLESTOWN, Pa., Oct. 14 /PRNewswire/ -- Avidas Pharmaceuticals, LLC, a privately held, specialty pharmaceutical company which focuses on dermatology, women's health and endocrinology, today announced that it has acquired North American rights to several prescription and OTC dermatology products from Crown Laboratories, Inc. This agreement expands Avidas' dermatology franchise and adds products that address chronic dermatologic conditions including scalp psoriasis and seborrheic dermatitis, disorders which afflict in excess of 15 million people in the U.S.
The first products to be launched by Avidas from this acquisition will be Scalacort, a prescription corticosteroid for the relief of inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses, and Scalacort DK, a comprehensive system for the management of dermatitis of the scalp and other affected areas. Scalacort and Scalacort DK will be sold through the Avidas sales force to dermatologists throughout the U.S.
"We are very pleased to have concluded this transaction with Avidas and look forward to an enduring partnership," stated Jeff Beddard, CEO of Crown Laboratories. "We are committed to continuing to build on our tradition of high-quality product development focused on specialty needs."
The agreement between Avidas and Crown includes development collaboration and additional dermatology products. Financial terms of the transaction were not disclosed.
"These product acquisitions, together with other as yet undisclosed acquisitions, add significant value to Avidas and allow us to further leverage our solid U.S. commercial infrastructure in the dermatology market," stated Margie Gardner, CEO of Avidas. "We look forward to collaborating with Crown to bring important additional new therapies to patients to improve their conditions and ultimately, their quality of life."
About Avidas:
Avidas Pharmaceuticals is a privately held, specialty pharmaceutical company focused on dermatology, women's health and endocrinology. The company acquires and develops products and maximizes their commercial potential with focused selling and precision marketing. The company is headquartered in Doylestown, PA. Visit http://www.avidaspharma.com for more information.
About Crown:
Crown Laboratories, Inc. is focused on the field of dermatology, oncology and pediatrics. Crown develops, manufactures and markets quality medicines and OTC products and contract manufactures products for a number of pharmaceutical and cosmetic companies. The company was formed in 2000 and is located in Bristol, TN.
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CONTACT: Greg Gironda of Avidas Pharmaceuticals, LLC, +1-267-895-1755,
greggironda@avidaspharma.com
Web site: http://www.avidaspharma.com/
