LONDON and HAYWARD, Calif. — GlaxoSmithKline will pay Impax Pharmaceuticals $11.5 million upfront to exclusively sell Impax's investigational Parkinson’s disease treatment.
In addition to the $11.5 million upfront payment, Impax Pharmaceuticals, the branded drug division of Impax Labs, is eligible to receive potential payments of up to $175 million upon the successful achievement of development and commercialization milestones.
Impax Pharmaceuticals will manufacture and supply IPX066 — which currently is undergoing late-stage clinical trials — to GSK, which will have the opportunity to sell IPX066 throughout the world, except in the United States and Taiwan.
Impax said it expects to file a new drug application in the United States for the Parkinson’s disease drug in late 2011, and will be responsible for commercialization here.
“We are very pleased to announce this development and collaboration agreement with GSK, which is a significant milestone in the development of Impax and an important achievement in the planned global commercialization for IPX066 for the treatment of Parkinson’s disease,” stated Michael Nestor, Impax Pharmaceuticals president. “GSK is an ideal partner for IPX066, combining global best-in-class development [and] regulatory and commercial experience in Parkinson’s disease, which will be an asset in the successful commercialization of IPX066.”