UPDATE 1-Barrier Therapeutics to sell skin gel with P&G shampoo
(Recasts; adds details, share movement)
May 22 (Reuters) - Barrier Therapeutics Inc BTRX.O said it agreed to package its skin treatment gel, Xolegel, with Procter & Gambles Co's (PG.N: Quotazione) Head & Shoulders anti-dandruff shampoo, sending its shares up more than 17 percent.
The kit, called Xolegel Duo, is for the treatment of seborrheic dermatitis, a disease that causes flaking of the skin, mainly on the face, scalp, hairline, eyebrows and torso.
It will be available by prescription in June, the pharmaceutical company said in a statement.
Barrier Therapeutics added that it would receive all proceeds from the sale of Xolegel Duo.
P&G will supply the pharmaceutical company with 1.7 oz bottles of Head & Shoulders shampoo for inclusion in the kit, Barrier said. All logistics including pricing, promotion and sale of the kits, will be handled by Barrier.
Shares of the Princeton, New Jersey-based company were up 39 cents at $2.63 in trading before the bell. They closed at $2.24 Wednesday on Nasdaq. (Reporting by Suzannah Benjamin in Bangalore; Editing by Himani Sarkar)
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