GlaxoSmithKline in $186 million deal with Impax for Ph III Parkinson's drug
UK drugs giant GlaxoSmithKline (LSE: GSK) and Impax Pharmaceuticals, the brand products division of USA-based Impax Laboratories (Nasdaq: IPXL) have entered into an agreement for the development and commercialization of IPX066, Impax’ novel extended release carbidopa-levodopa product, worldwide excluding the USA and Taiwan.
Under the terms of the deal, Impax will receive an $11.5 million upfront payment and is eligible to receive potential payments of up to $175 million on the successful achievement of development and commercialization milestones. Impax will also receive tiered, double-digit royalty payments on GSK sales of IPX066, which the US firm will manufacture and supply to GSK.
Parkinson’s market set to grow to $6.4 billion in 2015
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