FDA OKs Allergan’s Psoriasis Treatment

Irvine eye- and skin-care company Allergan Inc. said Monday that its Tazorac Cream for psoriasis treatment received marketing approval from the U.S. Food and Drug Administration.

Allergan said in a press release that the product is a new retinoid cream formulation specifically approved to treat plaque psoriasis.

Gel forms of Tazorac have been approved since 1997 to treat stable plaque psoriasis, and one gel formulation has been indicated to treat facial acne since that time.

Tazorac gel generated sales of $14.4 million for the six months ended June 30, about 67.4% higher than the year-ago period.

Wall Street, however, knocked Allergan shares down $4.84 a share Monday as the stock closed at $79.56 a share on the New York Stock Exchange.