Actavis to market, distribute authorized generic version of Valeant drug; Valeant to co-promote Actavis drug

PARSIPPANY, N.J. — Actavis will market and distribute an authorized generic version of a genital herpes ointment made by Valeant Pharmaceuticals International, the companies said Friday.

The agreement centers around Zovirax, known generically as acyclovir, in the 5% strength. The Food and Drug Administration approved the generic version, made by Mylan, on Wednesday. Financial terms of the deal were not disclosed.

Unlike an FDA-approved generic, an authorized generic is the branded drug marketed under its generic name at a discounted price, usually through a third-party company.

The agreement also gives Valeant the right to co-promote Actavis Specialty Brands' Cordran Tape (flurandrenolide), a treatment for skin conditions like psoriasis, eczema and contact dermatitis, in the United States.