VadovaTreatment for Parkinson's Disease
IMPAX Files Amendment to Vadova NDA
HAYWARD, Calif.--(BUSINESS WIRE)--Jan 18, 2007 - IMPAX Laboratories, Inc. today announced that it has filed an amendment to its new drug application (NDA) with the U.S. Food and Drug Administration (FDA) for its Vadova (carbidopa/levodopa) tablets. The Company believes that this amendment addresses the concerns raised in the Agency's non-approvable letter of March 2006. IMPAX expects to work with the FDA through its evaluation of the amendment, but cannot predict the nature or timing of the FDA's response.
Larry Hsu, Ph.D., president and chief executive officer of IMPAX, said, "As a result of diligent work with our contract research organization and follow-up communications with the FDA, we are pleased to provide the additional data requested by the FDA last March. Vadova has the potential to be a valuable addition to current carbidopa/levodopa treatments for Parkinson's disease."
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 IMPAX'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, possible adverse effects resulting from the delisting of and suspension of trading in IMPAX's stock, the SEC proceeding to determine whether to suspend or revoke the registration of IMPAX's securities under section 12 of the Securities Exchange Act, IMPAX's delay in filing its 2004 Form 10-K, its Form 10-Q for each of the first three quarters of 2005, its Form 10-K for 2005, and its Form 10-Q for each of the first three quarters of 2006, IMPAX's ability to obtain sufficient capital to fund its operations, the difficulty of predicting FDA filings and approvals, consumer acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, IMPAX's ability to successfully develop and commercialize pharmaceutical products, IMPAX's reliance on key strategic alliances, the uncertainty of patent litigation, the availability of raw materials, the regulatory environment, dependence on patent and other protection for innovative products, exposure to product liability claims, fluctuations in operating results and other risks detailed from time to time in IMPAX's filings 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.
IMPAX Laboratories, Inc.
Larry Hsu, Ph.D., President & CEO,
510-476-2000, Ext. 1111
Arthur Koch, CFO, 212-838-3777
Investor Relations Contacts:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 215-933-0351
Bruce Voss, 310-691-7100
Posted: January 2007