IMPAX Laboratories, Inc. Enters Into Development, Supply and Distribution Agreement With TOLMAR Inc.

HAYWARD, Calif. & FORT COLLINS, Colo.--(BUSINESS WIRE)--Impax Laboratories, Inc. (NASDAQ: IPXL) and TOLMAR, Inc. today announced that they will collaborate on a multiproduct agreement for the development, supply and distribution of generic topical prescription drug products. As part of the Development, Distribution and Supply Agreement (the “Agreement”), TOLMAR will supply up to nine currently approved and marketed products, and Impax’s generics division, Global Pharmaceuticals, will commercialize these products following a short transition period. According to Wolters Kluwer Health, total U.S. brand and generic sales of these nine multi-source products were approximately $378 million in the 12 months ended May 2012. The Agreement also includes two additional generic topical prescription drug products of which one is currently in development and one is a first-to-file Abbreviated New Drug Application (ANDA) pending approval at the U.S. Food and Drug Agency (FDA).