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.