HAYWARD, Calif. & FORT COLLINS, Colo.--(BUSINESS WIRE)--
Impax Laboratories, Inc. (NASDAQ: IPXL) and TOLMAR, Inc. today
announced that they will collaborate on a multiproduct agreement for the
development, supply and distribution of alternative dosage form
products. The targeted products had over $1 billion in brand sales in
2011, with several of the products having first-to-file or
first-to-market potential. The products and terms of the agreement were
not disclosed.
“We are excited to expand our relationship with TOLMAR on these
products. It represents an ideal extension of our initial product
agreement,” said Larry Hsu, Ph.D., president and CEO of Impax
Laboratories. “In the past two years, we have entered into four distinct
partnerships for alternative dosage form products as we continue to
execute our strategy of diversifying our product base. Our business
development activities will continue to focus on delivering growth from
high-value products, technologies, and businesses in complementary
dosage forms.”
Mike Duncan, CEO of TOLMAR, said: “We are very pleased with this
agreement. TOLMAR is once again recognized as a key player in the
Specialty Pharma space. This agreement is aligned with our long term
corporate strategy and we firmly believe that Impax Laboratories is the
right partner for these products. From its inception in 2006, TOLMAR has
been growing at a very impressive rate developing and introducing
several new products to the market. TOLMAR is continuously expanding its
facilities and employee base to meet current and future needs.”
About Impax Laboratories, Inc.
Impax Laboratories, Inc. 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 TOLMAR, Inc.
TOLMAR, Inc. is a northern Colorado based pharmaceutical research,
development, manufacturing and commercial operations company. TOLMAR
develops and manufacturers both proprietary and generic pharmaceutical
products. TOLMAR provides its customers with a competitive and
sustainable combination of product development and commercial services.
The company’s strengths include a proven development, clinical,
regulatory and manufacturing infrastructure with a highly trained and
experienced staff. Several of its marketed products are still in an
early stage growth mode. TOLMAR products are commercialized through
marketing partners in over fifty five countries worldwide, including
North America and Europe.
"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.
Source: Impax Laboratories, Inc.