Impax Laboratories, IGI Laboratories announce product development and supply agreement

Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that it has entered into a product development and supply agreement with IGI Laboratories, Inc., a formulation and manufacturing company. IGI will be responsible for developing two topical drug products, obtaining FDA marketing approvals, and manufacturing the commercial products. Impax will market and distribute the products through Global Pharmaceuticals, its generics division. The products and terms of the agreement were not disclosed.

Chris Mengler, president of Global Pharmaceuticals, said: "We look forward to working with the experienced team at IGI Laboratories on these two topical drug products. This marks our initial entry into alternative dosage forms as we begin 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."