Perrigo Gets FDA Approval For Generic Version Of Finacea Foam

(RTTNews) - Perrigo Company plc (PRGO), Monday said it received tentative approval from the U.S. Food and Drug Administration for the generic version of Finacea Foam.

Perrigo previously announced a patent litigation suit with Bayer AG for this product. Subsequently, LEO Pharma A/S acquired Finacea Foam (azelaic acid) 15% from Bayer AG and then substituted for Bayer AG as the lead plaintiff in the patent litigation suit concerning the product.

Annual market sales for the 12 months ending January 2019 were approximately $62 million as measured by IQVIA.

Perrigo Executive Vice President and President Rx Pharmaceuticals Sharon Kochan stated, "Our R&D team continues its diligent efforts to secure regulatory approvals for important new products. This tentative approval reflects our continued dedication to developing specialized, extended topical products for the benefit of patients and payors, as well as further illustrates our commitment to advancing our new product pipeline."