IntelliPharmaCeutics Achieves a 2012 Goal by Filing Two ANDAs -- Generic Forms of Keppra XR® and Pristiq®

TORONTO, Sept. 5, 2012 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I), a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today announced the achievement of another of its previously announced development goals for 2012 with its filing of two Abbreviated New Drug Applications ("ANDAs") with U.S. Food and Drug Administration ("FDA"). The first ANDA is for a generic version of the marketed drug Keppra XR® (levetiracetam extended-release tablets), an antiepileptic drug indicated for the treatment of partial onset seizures in patients with epilepsy. The second ANDA is for a generic version of the marketed drug Pristiq® (desvenlafaxine extended-release tablets), a selective serotonin and norepinephrine reuptake inhibitor indicated for the treatment of major depressive disorder. According to Wolters Kluwer Health, U.S. sales for the 12 months ending July 2012 for Keppra XR® were approximately $149 million and for Pristiq® were approximately $626 million.