Mar 26 2012
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.
"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."
Source: Impax Laboratories, Inc.