Epitan goes shopping: acquires three dermatology products
Monday, 19 July, 2004
Epitan (ASX: EPT) has acquired three dermatological products in its push to become a specialty dermatology pharmaceuticals company.
Two of the products, Linotar and Exorex, for the treatment of eczema and psoriasis respectively, were acquired from TransDermal Pharmaceuticals Australia. The products are already TGA-registered and generating sales in Australia, in a market potentially worth AUD$10 million per year.
The third product acquired is Zindaclin, a clindamycin-based anti-acne gel licensed from UK-based Strakan Pharmaceuticals. The product has been submitted to the TGA for registration.
Financial details of the transactions were not disclosed.
Epitan CEO Wayne Millen said the company expected the three products would generate more than $3 million revenues in the 2005-2006 financial year. The company's lead drug candidate Melanotan, which is currently completing Phase II clinical trials as a tanning and sun burn injury prevention drug, is not likely to reach the market before late 2006 or early 2007.
He said other acquisitions and in-licensing opportunities would be actively pursued to provide future growth in sales.
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