Key Developments: IGI Laboratories Inc (IG)
1.60USD
24 May 2013
$0.03 (+1.91%)
$1.57
$1.60
$1.83
$1.54
22,557
57,495
$2.25
$0.94
Latest Key Developments (Source: Significant Developments)
IGI Laboratories Inc Reaffirms FY 2013 Guidance-Conference Call
IGI Laboratories Inc announced that for fiscal 2013, it remains committed to target to double fiscal 2012 total revenue and achieve profitability. The Company reported revenue of $8.56 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $19.41 million and net income of $1.50 million for fiscal 2013. Full Article
IGI Laboratories Inc Acquires Econazole Nitrate Cream
IGI Laboratories Inc announced it has entered into an agreement to purchase the topical pharmaceutical product Econazole Nitrate Cream 1% from Prasco, LLC., a privately-held pharmaceutical company located in Ohio. The purchase agreement includes the acquisition of the abbreviated new drug application, or ANDA, know-how related to the product, and other acquired assets related to the Econazole Nitrate Cream 1%. Econazole Nitrate Cream 1% which is available in 15 g, 30 g, and 85 g tubes has U.S. Food and Drug Administration approved indications for the treatment of tinea pedis, tinea cruris, and tinea corporis as well as the treatment of cutaneous candidiasis and tinea versicolor. Upon approval from the FDA of the manufacturing site transfer, IGI intends to manufacture the product at the company`s facility in Buena, NJ. Full Article
IGI Laboratories Inc Announces Ninth ANDA Submission
IGI Laboratories Inc announced it has submitted an additional abbreviated new drug application (ANDA) to the US FDA, which brings the Company`s total number of submissions to nine. Full Article
IGI Laboratories Inc Announces Private Placement to Fund Proposed Product Acquisition
IGI Laboratories Inc announced it closed a private placement on December 21, 2012 for a gross proceeds of $2.0 million. The Company issued 1,965,740 shares of the Company`s common stock, par value of $0.01 per share, held in treasury, and a ten-year warrant to purchase up to an aggregate of 387,201 shares of the Company`s common stock, with an exercise price of $0.01 per share. The Company intends to use the proceeds from this offering to fund a proposed product acquisition. The Company signed a letter of intent and non-binding term sheet for the product acquisition on December 20, 2012. Following the completion of the Company`s due diligence, and subject to customary closing conditions, the Company would expect to complete the product acquisition by the end of January 2013. Full Article
IGI Laboratories, Inc. Announces Change To Executive Management Team
IGI Laboratories, Inc. announced that Jason Grenfell-Gardner has been appointed President and Chief Executive Officer (CEO) of IGI Laboratories, Inc. effective July 30, 2012. Full Article
IGI Laboratories, Inc. Announces Submission Of Sixth ANDA
IGI Laboratories, Inc. announced that it has submitted an additional abbreviated new drug application (ANDA) to the US FDA, bringing the Company’s total number of submissions to six. Full Article
IGI Laboratories, Inc. Announces Submission Of Fifth ANDA
IGI Laboratories, Inc. announced that it has submitted an additional abbreviated new drug application (ANDA) to the US FDA, bringing the Company’s total number of submissions to five. Full Article
IGI Laboratories, Inc. And Medimetriks Pharmaceuticals, Inc. Enter Long Term Strategic Partnership
IGI Laboratories, Inc. 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. Full Article
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