Benzinga | Jul 28, 2020 07:10AM EDT

Sol-Gel Technologies Says Partnered Generic Product Expected To Launch In Q2 Of 2021



NESS ZIONA, Israel, July 28, 2020 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ:SLGL), a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced that Sol-Gel has been informed by its collaboration partner that the launch of an FDA-approved generic drug is expected in the second quarter of 2021. In 2019, sales of the brand name product exceeded $180 million in the United States. Per terms of the previously announced collaboration agreement, Sol-Gel will receive payments based on product sales beginning at the launch date.

"We are delighted to announce the expected market entry of a second partnered generic dermatology product," commented Alon Seri-Levy, Chief Executive Officer of Sol-Gel. "Importantly, the launch has the potential to add a new, significant stream of revenue to Sol-Gel in 2021."