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Generic Version of Elocon Ointment Approved by FDA
Atrix's product is the AB-rated generic to Elocon® brand of mometasone furoate ointment USP Ointment 0.1 percent, which is marketed by Schering Plough Corporation. In 2003, branded sales of Elocon are estimated to be approximately $17 million. This newly approved product will be marketed by Geneva Pharmaceuticals, an affiliate of Novartis AG (NYSE: NVS).
"We are pleased to have our second generic topical approved this year," said David R. Bethune, Atrix's chairman and chief executive officer. "This approval, along with our earlier approval for a generic version of EMLA®, represents the beginning steps in building a number of revenue-generating generic dermatology products in the next several years. This product currently has a generic competitor."
Source: Atrix Laboratories, Inc.