Impax Pharmaceuticals, the brand products division of Impax Laboratories, Inc.
IPXL today announced that Impax and GlaxoSmithKline GSK are
terminating their collaboration for the development and commercialization of
IPX066 outside the United States (U.S.) and Taiwan. IPX066 (known as RYTARY™
in the U.S.) is an investigational extended-release capsule formulation of
carbidopa-levodopa being developed for the symptomatic treatment of adult
patients with idiopathic Parkinson's disease and is not approved anywhere in
the world.
Under the terms of the agreement entered into in December 2010, GSK's right to
develop and commercialize IPX066 outside the U.S. and Taiwan will transfer
back to Impax effective at the end of July 2013. The decision has been reached
because of delays in the anticipated regulatory approval and launch dates in
countries in which GSK has rights to commercialize the product.
Impax intends to initiate activities to find a partner or partners for markets
outside the U.S. looking to grow their non-US neurology franchise.
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