April 29 Impax Laboratories Inc said
partner GlaxoSmithKline Plc ended their collaboration on
Impax's experimental Parkinson's disease drug due to regulatory
and launch delays in the countries in which GSK has rights to
market the drug.
Impax shares fell 2 percent to $17.32 in premarket trade
after closing at $17.62 on Friday on the Nasdaq.
Under a deal, GlaxoSmithKline had the right to develop and
market the drug, IPX066, outside the United States and Taiwan.
Rights to the drug, which is known as Rytary in the United
States, will transfer back to Impax at the end of July 2013.
Impax did not disclose the financial impact of the deal
termination, if any. It said it plans to find a partner or
partners for markets outside the United States.
Rytary is an extended-release capsule being developed for
the symptomatic treatment of adult patients with idiopathic