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Author: BUSINESS WIRE
Auriga Laboratories Acquires Exclusive U.S. Rights to New Hair Loss Product Company To Enter $3.5 Billion Hair Loss Treatment Market LOS ANGELES--(BUSINESS WIRE)--Auriga Laboratories, Inc. (OTCBB: ARGA), a specialty pharmaceutical company with products for the treatment of Xerostomia, dermatological conditions, and acute respiratory diseases, announced today that it has entered into an agreement to acquire the exclusive U.S. rights to a novel product for hair loss developed by Laboratories Carilene, a French-based developer of therapeutic products, including Aquoral™ which Auriga currently distributes. The new product will be available without a prescription and promoted through the Company’s Consumer Brands division. Currently, this formulation is available in Europe where it has sold over 2 million units since its introduction. In a product trial consisting of 60 patients, this complete hair regimen, consisting of a shampoo and topical lotion, was shown to be effective at minimizing the appearance of hair loss. In addition, data has shown that a user’s improved appearance is maintained for a significant period of time after the product’s use is discontinued. Most products on the market do not have such a lasting effect. “We are excited to acquire the exclusive rights to this unique product to improve the appearance of people with hair loss,” said Philip S. Pesin, CEO of Auriga. “Laboratories Carilene has a history of developing highly successful products, and we believe that there is a significant opportunity to penetrate this large and growing market, currently estimated to generate approximately $3.5 billion in annual sales.” According to published data, by the age of fifty, 85% of men have noticeable hair loss. There are an estimated 60 million Americans who purchase various hair growth treatments annually.
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