PreCision Dermatology Acquires Assets of Triax Pharmaceuticals
Significantly Expands Market Position of Onset Dermatologics in Clinical Dermatology
NEW YORK, NY (April 30, 2012) – PreCision Dermatology, a leading producer and marketer of innovative dermatological and skin care therapies, today announced the acquisition of the assets of Triax Pharmaceuticals LLC, a specialty pharmaceutical company with a range of branded prescription dermatology products, including the mid-potency topical steroid Locoid®, as well as Minocin® and Tretin-X™. The products will be marketed by Onset Dermatologics, which is the prescription dermatology subsidiary of PreCision Dermatology. The move significantly expands Onset's offering of high quality branded products designed to provide dermatologists, physician assistants and nurse practitioners with superior solutions to their patients' needs.
PreCision Dermatology is led by Jeffrey Nugent, the former President and CEO of Neutrogena during the high growth period following its acquisition by Johnson & Johnson and former President and CEO of Revlon.
Onset Dermatologics is led by Jeffrey Wayne, a veteran in the prescription dermatology space. Prior to joining Onset, Mr. Wayne held senior management positions at Galderma, Intendis, and Promius Pharma. "This acquisition strengthens Onset's position as a leader in the treatment of atopic dermatitis. We now have the number one prescribed barrier repair product, HylatopicPlus®, and the number one branded mid-potency topical steroid, Locoid, in our portfolio. Minocin and Tretin-X are an excellent fit with our existing BenzEFoam® acne franchise," said Mr. Wayne. "We've built a world-class sales and marketing team, and we are excited about the new opportunities these products present."
About Onset Dermatologics:
Headquartered in New York and Cumberland RI, Onset Dermatologics, a subsidiary of PreCision Dermatology, is a fully-integrated prescription dermatology company with a mission to deliver innovative therapies to doctors and patients. Onset is expanding rapidly through internally generated innovation, acquisitions, in-licensing, and co- marketing opportunities. For additional information, please visit http://www.onsetderm.com.