Impax Laboratories Confirms Patent Challenge Relating to WELCHOL® 625 mg Tablets
January 15 2010 - 9:00AM
Business Wire
Impax Laboratories, Inc. (NASDAQ:IPXL) today
confirms that it has initiated a challenge of patents listed by
Daiichi Sankyo, Inc. in connection with its WELCHOL® (Colesevelam
HCl) tablets, 625 mg.
Impax filed its Abbreviated New Drug Application (“ANDA”)
containing a paragraph IV certification for a generic version of
WELCHOL® with the U.S. Food & Drug Administration (“FDA”).
Following receipt of the notice from the FDA that Impax’s ANDA had
been accepted for filing, Impax notified the New Drug Application
holder and patent owners of its paragraph IV certification.
On January 14, 2010, Daiichi Sankyo, Inc. and Genzyme
Corporation filed suit for patent infringement against Impax in the
United States District Court for the District of Delaware. This
action formally initiates the patent challenge process under the
Hatch-Waxman Act. Based on the filing date of the ANDA, the Company
believes that it is the first to file an ANDA with a paragraph IV
certification and expects to be entitled to 180 days of market
exclusivity.
Once the ANDA is approved by FDA, Global Pharmaceuticals,
Impax’s generic division, will commercialize the products.
WELCHOL® is indicated as an adjunct to diet and exercise to
reduce elevated low-density lipoprotein cholesterol (LDL-C) in
adults with primary hyperlipidemia (Fredrickson Type IIa) as
monotherapy or in combination with an
hydroxymethyl-glutaryl-coenzyme A (HMG CoA) reductase inhibitor
(statin), reduce LDL-C levels in boys and postmenarchal girls, 10
to 17 years of age, with heterozygous familial hypercholesterolemia
as monotherapy or in combination with a statin after failing an
adequate trial of diet therapy, and improve glycemic control in
adults with type 2 diabetes mellitus. According to Wolters Kluwer
Health, U.S. sales of WELCHOL® were approximately $308 million for
the twelve-month period ending November 2009.
About Impax Laboratories, Inc.
Impax Laboratories, Inc. is a technology based specialty
pharmaceutical company applying its formulation expertise and drug
delivery technology to the development of controlled-release and
specialty generics in addition to the development of branded
products. Impax markets its generic products through its Global
Pharmaceuticals division and markets its branded products through
the Impax Pharmaceuticals division. Additionally, where
strategically appropriate, Impax has developed marketing
partnerships to fully leverage its technology platform. Impax
Laboratories is headquartered in Hayward, California, and has a
full range of capabilities in its Hayward and Philadelphia
facilities. For more information, please visit the Company's Web
site at: www.impaxlabs.com.
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995:
To the extent any statements made in this news release contain
information that is not historical, these statements are
forward-looking in nature and express the beliefs and expectations
of management. Such statements are based on current expectations
and involve a number of known and unknown risks and uncertainties
that could cause the Company’s future results, performance or
achievements to differ significantly from the results, performance
or achievements expressed or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to; ability to timely file periodic reports required by the
Exchange Act; ability to maintain an effective system of internal
control over financial reporting; ability to sustain profitability
and positive cash flows; ability to maintain sufficient capital to
fund operations; any delays or unanticipated expenses in connection
with the construction of our Taiwan facility; ability to
successfully develop and commercialize pharmaceutical products; the
uncertainty of patent litigation; consumer acceptance and demand
for new pharmaceutical products; the impact of competitive products
and pricing; the difficulty of predicting Food and Drug
Administration filings and approvals; inexperience in conducting
clinical trials and submitting new drug applications; reliance on
key alliance agreements; the availability of raw materials; the
regulatory environment; exposure to product liability claims;
fluctuations in operating results and other risks described in our
periodic reports filed with the Securities and Exchange Commission.
Forward-looking statements speak only as to the date on which they
are made, and Impax undertakes no obligation to update publicly or
revise any forward-looking statement, regardless of whether new
information becomes available, future developments occur or
otherwise.
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