News: TFS Corporation seeks to clean out U.S. acne market

TFS Corporation (ASX:TFS) is poised to tap the US$4 billion acne market in the U.S. with international dermatology company Galderma officially launching its Benzac over-the-counter acne treatment.

Benzac contains TFS’s pharmaceutical grade East Indian Sandalwood oil as the key product differentiator.

Galderma is a Nestle-owned company that recorded €1.7 billion (A$2.48 billion) in revenues in 2013.

There are up to 50 million acne sufferers in the U.S. alone.

TFS is Australia’s largest sandalwood oil producer with 9,000 hectares of sandalwood plantations either owned or managed in Western Australia, Northern Territory and Queensland.

Its contract with Galderma was established by TFS’s 50% owned joint venture entity Santalis Pharmaceuticals Inc. in February 2014 for the marketing of certain of Santalis’ dermatology products, including a long-term exclusive supply agreement at US$4,500 per kilogram of oil.

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