Elorac
Encyclopedia
Elorac, Inc. is a specialty pharmaceutical company focused on advancing treatments in dermatology
. It is based in Vernon Hills, Illinois
. According to the company’s website, Elorac specializes in prescription
based dermatology products, with a focus on medications used in the treatment of psoriasis, actinic keratosis
, acne
and other skin disorders
.
Elorac was founded by Joel E. Bernstein, M.D.
, the Executive Chairman of Elorac and a leading authority in dermatology. He is a successful entrepreneur
with a long track record of developing and commercializing
novel medicines, having founded or co-founded several companies, which have sold for more than an estimated $1 billion
in the aggregate. Before starting Elorac, Dr. Bernstein was the founder, Chairman, and Chief Executive Officer
of GenDerm Corporation, a pharmaceutical company that was acquired by Medicis Pharmaceutical
Corporation in 1997 for an estimated $80 million. He was also the founder and non-executive chairman of Sirius Laboratories, Inc., a dermatological products company acquired by DUSA Pharmaceuticals
in 2006 for an estimated $30 million. Dr. Bernstein also co-founded Ovation Pharmaceuticals in 2000, which was sold to Lundbeck
in 2009 for an estimated $900 million, and founded Winston Pharmaceuticals, a public company involved in the research of novel pain relief drugs. Previously, Dr. Bernstein was head of dermatopharmacology at Northwestern University Medical School and the University of Chicago Pritzker School of Medicine. Dr. Bernstein has also held senior scientific positions at Abbott Laboratories
and Schering-Plough Corporation. He has authored more than 125 scientific publications and holds over 150 patent
s. Dr. Bernstein received a B.A. from Carleton College and an M.D. from the University of Chicago
Pritzker School of Medicine
, where he received the Roche Award for ranking first in his class. He completed specialty-training programs in both dermatology and clinical pharmacology
at the University of Chicago.
The company’s website states that it currently markets products for psoriasis, wart and dermatitis
and that it expects to introduce products for acne, fungal diseases
, actinic keratosis and management of diabetic skin
over the forthcoming year. According to the website, the company focuses on the development of innovative, late-stage dermatological products that require relatively small R&D expenditures
, as well as the selective acquisition and licensing of late-stage product candidates and technologies.
Financial information about the company is not available because the company is privately held.
Dermatology
Dermatology is the branch of medicine dealing with the skin and its diseases, a unique specialty with both medical and surgical aspects. A dermatologist takes care of diseases, in the widest sense, and some cosmetic problems of the skin, scalp, hair, and nails....
. It is based in Vernon Hills, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
. According to the company’s website, Elorac specializes in prescription
Prescription drug
A prescription medication is a licensed medicine that is regulated by legislation to require a medical prescription before it can be obtained. The term is used to distinguish it from over-the-counter drugs which can be obtained without a prescription...
based dermatology products, with a focus on medications used in the treatment of psoriasis, actinic keratosis
Actinic keratosis
Actinic keratosis is a premalignant condition of thick, scaly, or crusty patches of skin. It is more common in fair-skinned people. It is associated with those who are frequently exposed to the sun, as it is usually accompanied by solar damage...
, acne
Acne
Acne is a general term used for acneiform eruptions. It is usually used as a synonym for acne vulgaris, but may also refer to:*Acne aestivalis*Acne conglobata*Acne cosmetica*Acne fulminans*Acne keloidalis nuchae*Acne mechanica...
and other skin disorders
Cutaneous conditions
There are many conditions of or affecting the human integumentary system—the organ system that comprises the entire surface of the body and includes skin, hair, nails, and related muscle and glands.- Diseases :...
.
Elorac was founded by Joel E. Bernstein, M.D.
Doctor of Medicine
Doctor of Medicine is a doctoral degree for physicians. The degree is granted by medical schools...
, the Executive Chairman of Elorac and a leading authority in dermatology. He is a successful entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
with a long track record of developing and commercializing
Commercialization
Commercialization is the process or cycle of introducing a new product or production method into the market. The actual launch of a new product is the final stage of new product development, and the one where the most money will have to be spent for advertising, sales promotion, and other marketing...
novel medicines, having founded or co-founded several companies, which have sold for more than an estimated $1 billion
1000000000 (number)
1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001.In scientific notation, it is written as 109....
in the aggregate. Before starting Elorac, Dr. Bernstein was the founder, Chairman, and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of GenDerm Corporation, a pharmaceutical company that was acquired by Medicis Pharmaceutical
Medicis Pharmaceutical
Medicis Pharmaceutical is a medical cosmetics company headquartered in Scottsdale, Arizona. It was founded in 1988. Among their products are Solodyn and Ziana for treating acne, and Restylane and Dysport for treating facial wrinkles. As of September of 2011, the company has also sold it's rights to...
Corporation in 1997 for an estimated $80 million. He was also the founder and non-executive chairman of Sirius Laboratories, Inc., a dermatological products company acquired by DUSA Pharmaceuticals
DUSA Pharmaceuticals
DUSA Pharmaceuticals, Inc. is pharmaceutical company based in Wilmington, Massachusetts that specializes in dermatology products. The major focus of the company includes medications used in the treatment of actinic keratoses and acne....
in 2006 for an estimated $30 million. Dr. Bernstein also co-founded Ovation Pharmaceuticals in 2000, which was sold to Lundbeck
Lundbeck
H. Lundbeck A/S is a Danish international pharmaceutical company engaged in the research and development, production, marketing, and sale of drugs for the treatment of disorders in the central nervous system , including depression, schizophrenia, Alzheimer’s disease, Parkinson’s disease,...
in 2009 for an estimated $900 million, and founded Winston Pharmaceuticals, a public company involved in the research of novel pain relief drugs. Previously, Dr. Bernstein was head of dermatopharmacology at Northwestern University Medical School and the University of Chicago Pritzker School of Medicine. Dr. Bernstein has also held senior scientific positions at Abbott Laboratories
Abbott Laboratories
Abbott Laboratories is an American-based global, diversified pharmaceuticals and health care products company. It has 90,000 employees and operates in over 130 countries. The company headquarters are in Abbott Park, North Chicago, Illinois. The company was founded by Chicago physician, Dr....
and Schering-Plough Corporation. He has authored more than 125 scientific publications and holds over 150 patent
Patent
A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention....
s. Dr. Bernstein received a B.A. from Carleton College and an M.D. from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
Pritzker School of Medicine
Pritzker School of Medicine
The Pritzker School of Medicine is the M.D. granting unit of the Biological Sciences Division of the University of Chicago. It is located on the University's main campus in the Hyde Park neighborhood of Chicago, and matriculated its first class in 1927...
, where he received the Roche Award for ranking first in his class. He completed specialty-training programs in both dermatology and clinical pharmacology
Clinical pharmacology
Clinical pharmacology is the science of drugs and their clinical use. It is underpinned by the basic science of pharmacology, with added focus on the application of pharmacological principles and methods in the real world...
at the University of Chicago.
The company’s website states that it currently markets products for psoriasis, wart and dermatitis
Dermatitis
-Etymology:Dermatitis derives from Greek derma "skin" + -itis "inflammation" and genetic disorder.-Terminology:There are several different types of dermatitis. The different kinds usually have in common an allergic reaction to specific allergens. The term may describe eczema, which is also called...
and that it expects to introduce products for acne, fungal diseases
Pathogenic fungi
Pathogenic fungi are fungi that cause disease in humans or other organisms. The study of pathogenic fungi is referred to as medical mycology. Although fungi are eukaryotic organisms many pathogenic fungi are also microorganisms.-Candida:...
, actinic keratosis and management of diabetic skin
Diabetic dermadrome
Diabetic dermadromes constitute a group of cutaneous conditions commonly seen in diabetic patients with longstanding disease. Conditions included in this group are:* Acral dry gangrene* Carotenosis* Diabetic dermopathy* Diabetic bulla...
over the forthcoming year. According to the website, the company focuses on the development of innovative, late-stage dermatological products that require relatively small R&D expenditures
Research and development
The phrase research and development , according to the Organization for Economic Co-operation and Development, refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of...
, as well as the selective acquisition and licensing of late-stage product candidates and technologies.
Financial information about the company is not available because the company is privately held.