Business
Journey Medical Corporation Announces Settlement Agreements Pertaining to QBREXZA®, AMZEEQ® and ZILXI® Patent Exclusivity
SCOTTSDALE, Ariz., May 24, 2022 (GLOBE NEWSWIRE) -- Journey Medical Corporation (NASDAQ: DERM) (“Journey Medical” or the “Company”), a commercial-stage
About this update from Journey Medical Corporation
[{"type":"text","content":"SCOTTSDALE, Ariz., May 24, 2022 (GLOBE NEWSWIRE) -- Journey Medical Corporation (NASDAQ: DERM) (“Journey Medical” or the “Company”), a commercial-stage pharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions, today announced that Journey Medical and Padagis US LLC (“Padagis”) entered into a settlement agreement pertaining to the patents protecting QBREXZA®, the first and only prescription cloth towelette for the treatment of primary axillary hyperhidrosis, AMZEEQ®, the first and only topical minocycline product for the treatment of acne, and ZILXI®, the first and only topical minocycline product for the treatment of rosacea. Under terms of the paragraph IV settlement agreements, Padagis will not be allowed to launch generic versions of QBREXZA, AMZEEQ and ZILXI until August 15, 2030, July 1, 2031 and April 1, 2027, respectively. Claude Maraoui, Journey Medical’s Co-Founder, President and Chief Executive Officer, said, “These settlement agreements are an important step for Journey Medical, as they assist with solidifying our exclusivity and provide a clear pathway for years to come allowing us to grow the sales of our three newest products, QBREXZA, AMZEEQ and ZILXI. We believe in and will continue to enforce the intellectual property rights of our products. We believe that these settlements are beneficial to our company and shareholders, as well as prescribing physicians and their patients who depend on our novel products for treatment.” About Journey Medical CorporationJourney Medical Corporation (NASDAQ: DERM) (“Journey Medical”) is focused on identifying, acquiring, developing and strategically commercializing innovative, differentiated dermatology products through its efficient sales and marketing model. The company currently markets nine products that help treat and heal common skin conditions. The Journey Medical team is comprised of industry experts with extensive experience commercializing some of the most successful prescription dermatology brands. Journey Medical is located in Scottsdale, Arizona and was founded by Fortress Biotech, Inc. (NASDAQ: FBIO). Journey Medical’s common stock is registered under the Securities Exchange Act of 1934, as amended, and it files periodic reports with the U.S. Securities and Exchange Commiss...