Valeant Pharmaceuticals said Friday that the Food and Drug Administration approved its Luzu cream, which is designed to treat fungal infections.

The Canadian drugmaker said Luzu, or luliconazole, is intended to treat athlete’s foot, jock itch, and ringworm. It said the cream is indicated for daily use over the course of a week, while older treatments need two weeks to work.

The product was approved in Japan in 2005.

Shares of Valeant Pharmaceuticals International Inc. rose 97 cents to $106.83 in morning trading. Its shares have risen 77 percent so far this year.