FAJARDO, Puerto Rico and NESS ZIONA, Israel, Jan. 3 /PRNewswire/ -- Warner Chilcott Company, Inc. and Foamix Ltd. announced today that the two companies have signed an agreement to jointly develop an antibiotic foam for the treatment of acne.
Under the terms of this agreement, Foamix will be responsible for developing the foam formulations and Warner Chilcott will have an option to continue definitive development and worldwide commercialization of the product. Additional terms were not disclosed.
Acne is a skin condition that affects skin areas including the nose, forehead, cheeks, chin, back, and trunk. It is caused by a disorder of the oil glands that results in clogged pores and outbreaks of lesions commonly known as pimples. While most teenagers get some form of acne, adults in their 20's, 30's, 40's, or even older, can have acne. Acne affects between 17 million and 45 million people, making it the most common skin disease in the United States.
"We believe that Foamix foam offers an appealing way to deliver treatment to patients with acne," said Roger Boissonneault, Chief Executive Officer and President of Warner Chilcott.
"We are very proud to partner with an industry leader such as Warner Chilcott," said Foamix CEO Dr. Dov Tamarkin. "Foam offers properties that increase usability, encourage compliance and boost user satisfaction. Foamix foams are alcohol-free and able to effectively deliver a broad range of actives. Together with Warner Chilcott, we are working to create a premium foam product that will be suitable for the treatment of facial acne, as well as acne of the chest and back."
Warner Chilcott Company Inc. is a subsidiary of Warner Chilcott Limited .
About Warner Chilcott
Warner Chilcott is a specialty pharmaceutical company focused on developing, manufacturing, marketing and selling branded prescription pharmaceutical products in women's healthcare and dermatology in the U.S. WCRX-G
Read more on http://www.warnerchilcott.com/.
Warner Chilcott's Forward Looking Statements:
This press release contains forward-looking statements, including statements concerning our product development efforts. These statements constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "may," "might," "will," "should," "estimate," "project," "plan," "anticipate," "expect," intend," "outlook," "believe" and other similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based on estimates and assumptions by our management that, although we believe to be reasonable, are inherently uncertain and subject to a number of risks and uncertainties.
The following represent some, but not necessarily all, of the factors that could cause actual results to differ from historical results or those anticipated or predicted by our forward-looking statements: our substantial indebtedness; competitive factors in the industry in which we operate; our ability to protect our intellectual property; a delay in qualifying our manufacturing facility to produce our products or production or regulatory problems with either third party manufacturers upon whom we may rely for some of our products or our own manufacturing facility; pricing pressures from reimbursement policies of private managed care organizations and other third party payors, government sponsored health systems, the continued consolidation of the distribution network through which we sell our products, including wholesale drug distributors and the growth of large retail drug store chains; the loss of key senior management or scientific staff; an increase in litigation, including product liability claims and patent litigation; government regulation affecting the development, manufacture, marketing and sale of pharmaceutical products, including our ability and the ability of companies with whom we do business to obtain necessary regulatory approvals; our ability to successfully complete the implementation of a company-wide enterprise resource planning system without disrupting our business; our ability to manage the growth of our business by successfully identifying, developing, acquiring or licensing and marketing new products, obtain regulatory approval and customer acceptance of those products, and continued customer acceptance of our existing products; and other risks detailed from time-to-time in our financial statements and other investor communications.
We caution you that the foregoing list of important factors is not exclusive. In addition, in light of these risks and uncertainties, the matters referred to in our forward-looking statements may not occur. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as may be required by law.
About Foamix:
Headquartered in Ness Ziona, Israel, Foamix Ltd. develops alcohol-free, stable foam products for prescription, OTC and cosmetic uses. Foamix's state- of-the-art foams provide controlled delivery of a variety of active ingredients. They are also able to enhance intradermal delivery of actives, for optimal effect. The company's development capabilities range from initial development of foam formulations to scale-up, GMP manufacturing, preclinical and clinical studies. Foamix is a privately held company, whose business model is based on partnering with leading pharma companies to develop products utilizing its proprietary foam technologies. Foamix holds 3 patents and has 33 patents pending.
For additional information please visit http://www.foamix.co.il/
