Last year, French pharmaceutical giant Sanofi (NYSE:SNY) acquired Topaz Pharmaceuticals, and now that purchase looks like it’s paying off: Today the company received FDA approval on Sklice — a lotion developed by Topaz that treats head lice.
Millions of mothers should be ecstatic. Sklice takes about 10 minutes to apply and doesn’t require any combing. It’s for children as young as 6 months.
Sklice is based on ivermectin, which is an antiparasitic. The drug has been on the market for more than 20 years and has been used more than 1 billion times. The drug still might have some mild side-effects, like dry skin and eye irritation. But in clinical trials, the impact was seen on less than 1% of the testing population.
Sanofi hasn’t disclosed the lotion’s price yet, but it should be a hot seller, considering lice affects about 12 million children each year.
— Tom Taulli, InvestorPlace.com