IGI Laboratories, Inc. And Medimetriks Pharmaceuticals, Inc. Enter Long Term Strategic Partnership

IGI Laboratories, Inc. (NYSE Amex: IG), a New Jersey based formulation and manufacturing company, today announced that it has entered into a long term strategic partnership with Medimetriks Pharmaceuticals, Inc.

This strategic partnership designates IGI Laboratories, Inc. (IGI) as the developer and manufacturer of a family of prescription topical drug products owned by Medimetriks Pharmaceuticals, Inc. (Medimetriks). In addition, as part of this long term relationship, Medimetriks has appointed IGI as Medimetriks’ authorized generic distributor of certain products in this line.

Medimetriks expects to launch its new line of prescription topical brands during the second quarter of 2012. IGI Laboratories is expected to begin the authorized generic distribution of certain of those products shortly thereafter.

IGI’s Chief Executive Officer, Charlie Moore, stated, “This marks a significant step for IGI Laboratories as it expands into a fully-integrated developer and manufacturer of prescription topical pharmaceuticals. This partnership provides IGI the opportunity to enhance our relationship with a strong brand marketer as well as providing marketing opportunities as the authorized generic. Further, it complements our key corporate initiative, to continue to file our own Abbreviated New Drug Applications (ANDAs) and to establish a presence in the generic pharmaceutical arena. We appreciate the confidence Medimetriks has shown in IGI.”

Bradley Glassman, Chairman & CEO of Medimetriks, stated, “We have been very impressed with IGI, its staff and their commitment to customer service. IGI’s investment into its facilities the past few years is impressive and has created a solid foundation for the future. IGI and Medimetriks are ready for this partnership, which we believe is value-creating and a strategic catalyst for both of us.”

About Medimetriks Pharmaceuticals, Inc.

Medimetriks Pharmaceuticals, Inc. ( www.medimetriks.com) is a growing, independent specialty Dermatology and Podiatry company. Medimetriks’ mission is to develop, acquire, license and commercialize innovative prescription skincare brands that fill unmet needs in the Dermatology and Podiatry markets.

About IGI Laboratories, Inc.

IGI Laboratories, Inc. ( www.igilabs.com) is focused in the development and commercialization of products for the dermatology market. IGI’s vision is to become a leading player in the field of dermatology, with a significant presence in the pharmaceutical, OTC and cosmetic skin care markets.

IGI Laboratories, Inc. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release that are not historical facts and statements identified by words such as " will," "possible," "one time," "provides an opportunity," "continue" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in IGI Laboratories, Inc.’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.’s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Copyright Business Wire 2010

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