Impax Laboratories Confirms Patent Challenge Relating to TRILIPIX® Delayed-Release Capsules, 135 mg and 45 mg
March 15 2010 - 9:30AM
Business Wire
Impax Laboratories, Inc. (NASDAQ: IPXL) today
confirms that it has initiated a challenge of the patent listed by
Abbott Laboratories and Fournier Laboratories Ireland Ltd. in
connection with its TRILIPIX® (choline fenofibrate) delayed-release
capsules, 135 mg and 45 mg.
Impax filed its Abbreviated New Drug Application (“ANDA”)
containing a paragraph IV certification for a generic version of
TRILIPIX® 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 owner of its paragraph IV
certification.
On March 12, 2010, Abbott Laboratories and Fournier Laboratories
Ireland Ltd. filed suit for patent infringement against Impax in
the United States District Court for the District of New Jersey.
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.
TRILIPIX® helps reduce cholesterol and triglycerides (fatty
acids) in the blood. According to Wolters Kluwer Health, U.S. sales
of TRILIPIX® were approximately $276 million across both strengths
for the twelve month period ending January 2010.
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, Philadelphia and Taiwan
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, the effect of current economic conditions on the
Company’s industry, business, financial position, results of
operations and market value of its common stock, the ability to
maintain an effective system of internal control over financial
reporting, fluctuations in revenues and operating income,
reductions or loss of business with any significant customer, the
impact of competitive pricing and products and regulatory actions
on the Company’s products, the ability to sustain profitability and
positive cash flows, the ability to maintain sufficient capital to
fund operations, any delays or unanticipated expenses in connection
with the operation of the Taiwan facility, the ability to
successfully develop and commercialize pharmaceutical products, the
uncertainty of patent litigation, consumer acceptance and demand
for new pharmaceutical products, the difficulty of predicting Food
and Drug Administration filings and approvals, the inexperience of
the Company in conducting clinical trials and submitting new drug
applications, reliance on key alliance and collaboration
agreements, the availability of raw materials, the ability to
comply with legal and regulatory requirements governing the
healthcare industry, the regulatory environment, exposure to
product liability claims and other risks described in the Company’s
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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