GlaxoSmithKline has joined forces with Impax Pharmaceuticals to develop and commercialise the latter’s Parkinson’s Disease drug, which is currently in Phase III.
Under the terms of the agreement, GSK will receive an exclusive license to commercialise IPX066, a novel extended release carbidopa-levodopa product, throughout the world except in the USA and Taiwan. Impax will receive an $11.5 million upfront payment and is eligible to receive potential payments of up to $175 million upon the successful achievement of development and commercialisation milestones.
Impax will complete the current Phase III programme for IPX066, which includes the recently completed APEX-PD trial in early Parkinson’s Disease. The results from the remaining Phase III study programme are expected to be available in 2011, with Impax expecting to file a New drug Application for the disease in the USA in late 2011.
“GSK is an ideal partner for IPX066, combining global best-in-class development, regulatory and commercial experience in Parkinson’s disease, which will be an asset in the successful commercialisation of IPX066,” said Michael Nestor, president of Impax Pharmaceuticals.