Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Kiwi pimple cream bursts into US market

Kiwi pimple cream bursts into US market

By Hannah Lynch

Jan. 25 (BusinessDesk) – New Zealand’s Douglas Pharmaceuticals has gained Food and Drug administration approval to sell its acne medication, isotretinoin, in the United States.

The West Auckland-based company will dispatch its first US orders next month and a consumer launch is expected in April or May, the company said in a statement. The US acne medication market is worth about $494 million and the company has been trying to break into the market for 10 years.

“It’s our biggest export product and is the market leader in Spain, Austria, Germany and Mexico,” said Jeff Douglas, director. “The US market has, however taken a little longer to get approval but as the US is the largest pharmaceutical market in the world the potential for us is very exciting.”

Douglas was set up in 1967, and sells 15 products into 35 countries, with export turnover of some $85 million, and it earns more than $57 million domestically.

Isotretinoin is sold as a prescription medicine in New Zealand under the brand name Oratane.

Douglas currently has another three products under review by the FDA.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




REINZ May Data: House Price Rises Continue; Auckland Hits New Record Median Price Again

Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand... More>>

Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>


E Tu: ‘Sense Of Mourning’ As Norske Skog Mill Set To Close

Workers at Norske Skog’s Tasman Mill now know they’ll be losing their jobs in little over a month’s time.
On Wednesday afternoon, workers were told the mill will be stopping production from the end of June... More>>



Auction: 1.4 Million In Rare Vintage Watches, Gems, Jewels & Diamonds Go Under The Hammer At Webb’s

An auction event showcasing over 1.4 Million dollars in rare jewels, gems, diamonds and vintage watches is due to take place this Sunday by Auckland based auction house Webb’s... More>>

Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>

E-Commerce: Over 40% Of Those Engaged In The Bitcoin Community Are Millennials

Bitcoin has emerged to be a popular topic among millennials with digital currency increasingly being viewed as a potential source of creating wealth through investments. The interest in bitcoin by millennials signals the role this age group plays in the possible realization of the digital currency’s mass adoption... More>>