FAIRFIELD, N.J., Jan. 26 Medimetriks Pharmaceuticals announced today that the Company has entered into a Distributor Agreement with Perrigo Company (Nasdaq: PRGO), a leading manufacturer in the generic prescription marketplace, designating Perrigo as the Exclusive Authorized Distributor of generic versions of Medimetriks' branded products in the U.S. The agreement calls for Medimetriks to receive a percentage of Perrigo's Net Sales on the non-branded products, allowing Medimetriks to maximize its investment in its brands and maintain a revenue stream from the markets these brands create.
Founded in May, 2008, Medimetriks launched its first prescription brands in the 4th Quarter of 2008 to the Dermatology and Podiatry markets. These brands include Pacnex(TM) (7% Benzoyl Peroxide) Wash, a topical treatment for acne in a unique vehicle containing Aloe and Green Tea; Sumaxin(TM) (Sodium sulfacetamide 10% & sulfur 4%) Cleansing Pads, a topical treatment for acne and rosacea also in a vehicle containing Aloe and Green Tea; and Uramaxin(TM) (45% Urea) Nail Gel, a treatment for diseased and damaged nails in a unique vehicle containing Menthol, Camphor and Eucalyptus Oil. The agreement also includes future products launched by Medimetriks.
"Our agreement with Perrigo represents a strategic opportunity for Medimetriks to leverage our brand assets in the non-branded marketplace," stated Bradley Glassman, President and CEO of Medimetriks. "We are pleased to work with one of the world's leading healthcare manufacturers and generic marketers, with a particular expertise in the topical generic market."
"We believe our relationship with Medimetriks will be a mutually beneficial one," stated Sharon Kochan, Executive Vice President of Perrigo. "Medimetriks' Management Team, having previously built Bradley Pharmaceuticals into an approximately $200 million gross revenue company, has a solid track record of success in building a branded pharmaceutical business in the markets they serve."
About Medimetriks Pharmaceuticals, Inc.
Medimetriks Pharmaceuticals develops, licenses and commercializes prescription skincare products primarily for the Dermatology and Podiatry marketplaces. The Company's mission is to enhance patient quality-of-life by providing innovative therapies that advance patient care.
The Company is located at 363 Route 46 West, Fairfield, NJ 07004-2402. Please visit the Medimetriks website at www.medimetriks.com, call (973) 882-7512 or fax (973) 882-7502.
Pacnex(TM) Wash is for external use only. Avoid contact with eyes, lips or mucous membranes. If severe irritation develops, discontinue use of Pacnex(TM) Wash. While using Pacnex(TM) Wash, patients should be advised to avoid unnecessary sun exposure. Please see full Prescribing Information available at www.medimetriks.com.
Sumaxin(TM) Cleansing Pads are contraindicated in persons with known or suspected hypersensitivity to sulfonamides or sulfur. Sumaxin(TM) Cleansing Pads are not to be used by patients with kidney disease. Although rare, topical sodium sulfacetamide may cause local irritation. Please see full Prescribing Information available at www.medimetriks.com.
Uramaxin(TM) Nail Gel is for external use only. Avoid contact with eyes, lips or mucous membranes. Transient stinging, burning, itching or irritation may occur and normally disappear on discontinuing the medication. Use as directed. Please see full Prescribing Information available at www.medimetriks.com.
SOURCE Medimetriks Pharmaceuticals