HAYWARD, Calif.--(BUSINESS WIRE)--
Impax Laboratories, Inc. (NASDAQ: IPXL) today announced
that it will collaborate with Perrigo Company (NASDAQ: PRGO;TASE) on the
development, manufacturing and commercialization of an extended topical
generic drug product with first to market potential. The product and
terms of the agreement were not disclosed.
“We are excited to expand our relationship with Perrigo on this
product,” said Larry Hsu, Ph.D., president and CEO of Impax
Laboratories. In just over two years, Impax has partnered with four
different companies on 27 alternative dosage form products, with 18 of
these either pending approval at the U.S. Food and Drug Administration
or under development. We will continue to focus on delivering growth
from high-value products, technologies, and businesses in complementary
dosage forms.”
Perrigo’s Chairman, President and CEO Joseph C. Papa stated, “This
collaboration is yet another example of our long-term investment in
development of products in the extended topical space. We are pleased to
be partnering with Impax on this opportunity to be first to market with
this important new product, making quality healthcare more affordable
for our customers as quickly as possible.”
About Impax Laboratories, Inc.
Impax Laboratories, Inc. (“Impax”) is a technology based specialty
pharmaceutical company applying its formulation expertise and drug
delivery technology to the development of controlled-release and
specialty generics in addition to the development of branded products.
Impax markets its generic products through its Global Pharmaceuticals
Division and markets third-party branded products through the Impax
Pharmaceuticals Division. Additionally, where strategically appropriate,
Impax has developed marketing partnerships to fully leverage its
technology platform. Impax Laboratories is headquartered in Hayward,
California, and has a full range of capabilities in its Hayward,
Philadelphia and Taiwan facilities. For more information, please visit
the Company's Web site at: www.impaxlabs.com.
About Perrigo Company
From its beginnings as a packager of generic home remedies in 1887,
Perrigo Company, based in Allegan, Michigan, has grown to become a
leading global provider of quality, affordable healthcare products. The
Company develops, manufactures and distributes over-the-counter ("OTC")
and generic prescription ("Rx") pharmaceuticals, nutritional products
and active pharmaceutical ingredients ("API") and is the world's largest
manufacturer of OTC pharmaceutical products for the store brand market.
Perrigo’s mission is to offer uncompromised “quality, affordable
healthcare products”, and it does so across a wide variety of product
categories primarily in the United States, United Kingdom, Mexico,
Israel and Australia, as well as certain other markets throughout the
world, including Canada, China and Latin America. Visit Perrigo on the
Internet (http://www.perrigo.com).
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995:
To the extent any statements made in this news release contain
information that is not historical, these statements are forward-looking
in nature and express the beliefs and expectations of management. Such
statements are based on current expectations and involve a number of
known and unknown risks and uncertainties that could cause the Company’s
future results, performance or achievements to differ significantly from
the results, performance or achievements expressed or implied by such
forward-looking statements. Such risks and uncertainties include, but
are not limited to, the effect of current economic conditions on the
Company’s industry, business, financial position and results of
operations, fluctuations in the Company’s revenues and operating income,
the Company’s ability to successfully develop and commercialize
pharmaceutical products, reductions or loss of business with any
significant customer, the impact of consolidation of the Company’s
customer base, the impact of competition, the Company’s ability to
sustain profitability and positive cash flows, any delays or
unanticipated expenses in connection with the operation of the Company’s
Taiwan facility, the effect of foreign economic, political, legal and
other risks on the Company’s operations abroad, the uncertainty of
patent litigation, increased government scrutiny on the Company’s
agreements with brand pharmaceutical companies, consumer acceptance and
demand for new pharmaceutical products, the difficulty of predicting
Food and Drug Administration filings and approvals, the Company’s
inexperience in conducting clinical trials and submitting new drug
applications, the Company’s ability to successfully conduct clinical
trials, the Company’s reliance on third parties to conduct clinical
trials and testing, the availability of raw materials and impact of
interruptions in the Company’s supply chain, the use of controlled
substances in the Company’s products, disruptions or failures in the
Company’s information technology systems and network infrastructure, the
Company’s reliance on alliance and collaboration agreements, the
Company’s dependence on certain employees, the Company’s ability to
comply with legal and regulatory requirements governing the healthcare
industry, the regulatory environment, the Company’s ability to protect
the Company’s intellectual property, exposure to product liability
claims, changes in tax regulations, the Company’s ability to manage the
Company’s growth, including through potential acquisitions, the
restrictions imposed by the Company’s credit facility, uncertainties
involved in the preparation of the Company’s financial statements, the
Company’s ability to maintain an effective system of internal control
over financial reporting, any manufacturing difficulties or delays, the
effect of terrorist attacks on the Company’s business, the location of
the Company’s manufacturing and research and development facilities near
earthquake fault lines and other risks described in the Company’s
periodic reports filed with the Securities and Exchange
Commission. Forward-looking statements speak only as to the date on
which they are made, and Impax undertakes no obligation to update
publicly or revise any forward-looking statement, regardless of whether
new information becomes available, future developments occur or
otherwise.
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Source: Impax Laboratories, Inc. and Perrigo Company