A Phase III Study in Subjects With Mild to Moderate Psoriasis.

Inclusion Criteria: 1. Male or non-pregnant female subjects aged \>18 years having either Fitzpatrick skin type I-III or IV-VI at the time of screening. 2. A clinical diagnosis of stable (at least 6 months) psoriasis vulgaris on body, or body and scalp, involving 5 to 10% of body surface area (BSA) and PASI ≤10., that does not include the face, axilla and groin areas. 3. Mild or moderate Psoriasis on Physician Global Assessment (PGA) score (grade 2 - 3). 4. A plaque elevation of at least moderate severity (grade ≥ 3) at the target lesion site. The most severe lesion at Baseline should be identified as the target lesion. 5. Subjects must be willing to provide written informed consent. 6. Subjects must be willing and able to understand and can comply with study requirements, apply the medication as instructed and be able to complete the study. 7. Subject must be in general good health as judged by the Investigator, based on medical history and physical examination. Exclusion Criteria: 1. Subject with history of hypersensitivity to betamethasone or calcipotriol or any component of the test or reference product or placebo. 2. Current diagnosis of unstable forms of psoriasis in the treatment area including guttate, erythrodermic, exfoliative, or pustular psoriasis. 3. Subjects with diagnosis of mild to moderate psoriasis only in the scalp area. 4. Other inflammatory skin disease in the treatment area that may confound the evaluation of the psoriasis vulgaris (e.g., atopic dermatitis, contact dermatitis, tinea corporis and seborrheic dermatitis). 5. Presence of pigmentation, extensive scarring, pigmented lesions, or sunburn in the treatment areas, which could interfere with the rating of efficacy parameters. 6. Subject with history of psoriasis unresponsive to topical treatments. 7. Subject with psoriasis lesions predominantly on palms and soles or palmo-plantar area. 8. Subjects with the diagnosis pustulosis palmo-plantaris 9. Subject in need of systemic treatment 10. Ongoing use of other psoriasis treatment including but not limited to topical or systemic corticosteroids, other topical medications (i.e. coal tar), oral or biologic medications for the treatment of psoriasis, and UV therapy. 11. Use of oral estrogen therapy, excluding oral contraceptive pills 12. Females who are pregnant, nursing, or planning a pregnancy 13. Females of childbearing potential who do not agree to utilize an adequate form of contraception. 14. Current significant medical problems that, in the discretion of the investigator, would put the subject at significant risk 15. Use of any investigational drug within 4 weeks prior to randomization, or 5 pharmacokinetic/pharmacodynamics half-lives, if known (whichever is longer) 16. Current or past history of hypercalcemia, calcium metabolism disorder, vitamin D toxicity, severe renal insufficiency, or severe hepatic disorders. 17. Current immunosuppression 18. Use of biologic treatment for psoriasis (e.g., infliximab, adalimumab, alefacept) within six months prior to Baseline. 19. Use of: 1) chemotherapy, or 2) radiation therapy, within three months prior to Baseline. 20. Use of: 1) immunosuppressive drugs (e.g., tacrolimus, pimecrolimus), or 2) oral retinoids, within two months prior to Baseline. 21. Use of: 1) systemic steroids, 2) systemic antibiotics, 3) other systemic antipsoriatic treatment, 4) PUVA therapy, 5) UVB therapy, or 6) systemic anti-inflammatory agents, within one month prior to Baseline. 22. Use of: 1) topical anti-psoriatic drugs (e.g., salicylic acid, anthralin, coal tar, calcipotriol, tazarotene), 2) topical corticosteroids, or 3) topical retinoids, within 2 weeks prior to Baseline. 23. Use of medicated shampoos with possible effect on psoriasis 24. Subject with positive serology tests like HIV, HCV \& HBsAg.