This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Impax Laboratories Enters Into Development, Supply And Distribution Agreement With TOLMAR, Inc.

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 generic topical prescription drug products. As part of the Development, Distribution and Supply Agreement (the “Agreement”), TOLMAR will supply up to nine currently approved and marketed products, and Impax’s generics division, Global Pharmaceuticals, will commercialize these products following a short transition period. According to Wolters Kluwer Health, total U.S. brand and generic sales of these nine multi-source products were approximately $378 million in the 12 months ended May 2012. The Agreement also includes two additional generic topical prescription drug products of which one is currently in development and one is a first-to-file Abbreviated New Drug Application (ANDA) pending approval at the U.S. Food and Drug Agency (FDA).

Under the terms of the Agreement, Impax will pay TOLMAR $21 million upon the closing and up to $25 million in milestone payments, if certain commercialization and ANDA approval targets are met. In addition, Impax will pay TOLMAR a profit share for each product commercialized. The transaction is expected to be accretive to Impax’s earnings per share (EPS) in 2012.

“We are excited to further enhance our relationship with TOLMAR on these products as we continue to diversify our generic product portfolio,” said Larry Hsu, Ph.D., president and CEO of Impax Laboratories. “This represents Global Pharmaceuticals first opportunity to commercialize alternative dosage form products alongside our existing portfolio of tablets and capsules. 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 excited about this expansion of our already strong relationship with Impax Laboratories. This agreement is aligned with our long term strategy and we firmly believe that Impax Laboratories is the right partner for these products. From its inception in 2006, TOLMAR has been developing and introducing new products to the market through strategic partnerships. We look forward to working with Impax Laboratories as we continue to expand our product offerings in the generic dermatology space.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs