Swedish pharmaceutical company Newbury Pharmaceuticals AB (STO:NEWBRY) announced on Thursday that it has been granted Marketing Authorization for Ivermectin Newbury 10 mg/g cream in Denmark, marking the first approval in its Scandinavian registration process.

Approvals in Norway and Sweden are expected following completion of national reviews.

The cream treats facial redness caused by rosacea and is a generic version of Soolantra. The Scandinavian market for ivermectin cream is currently valued at approximately EUR2.8m, according to DLMI Nordic Pharma Insights.

CEO Lars Minor said that this marks Newbury's first product in dermatology and demonstrates its ability to expand its product portfolio. The company plans to launch Ivermectin Newbury in relevant markets once regulatory exclusivities and patents permit.