FDA approves one-week antifungal drug made by Valeant

LAVAL, Quebec — The Food and Drug Administration has approved a new drug for fungal infections of the skin made by Valeant Pharmaceuticals International, the drug maker said Friday.

The company announced the FDA approval of Luzu (luliconazole) cream in the 1% strength for treatment of athlete's foot, jock itch and ringworm in adults.

"We are pleased to receive FDA approval earlier than expected," Valeant chairman and CEO J. Michael Pearson said. "This is the first safe and effective product indicated for daily use over a one-week period. This will be a welcome alternative to current options that require two weeks of treatment, and we believe Luzu will position us well to address this growing, unmet need."