The UK's largest drug maker, GlaxoSmithKline, today said that it had signed an agreement with Impax Pharmaceuticals for development and commercialisation rights to Impax's Parkinson's combination drug IPX066, which is a carbidopa-levodoped.
Impax Pharmaceuticals, is the brand products division of Impax Laboratories, Inc.
The deal enables GSK to add to its late-stage drug pipeline for marketing globally, except in the United States and Taiwan. In The US, Impax expects to file a New Drug Application for Parkinson's Disease in late 2011 and will be responsible for its commercialisation.
According to Atul Pande, senior vice president, neurosciences medicines development centre, GSK, there was a significant need for a therapy to improve on clinical symptom management and control in Parkinson's Disease.
"We look forward to collaborating with Impax and hope to deliver an improved treatment option to the millions of people living with this devastating disease,'' Pnnde said.
IPX066, an investigational product under development for the treatment of Parkinson's Disease (PD), is currently in Phase III clinical trials.
Under the terms of the agreement, GSK will pay Impax an $11.5-million upfront payment and is eligible to receive potential payments of up to $175 million upon the achievement of development and commercialisation milestones.
Impax will also receive tiered, double-digit royalty payments on GSK sales of IPX066, which Impax will manufacture and supply to GSK.
Impax will complete the current Phase III programme for IPX06. The results from the remaining Phase III study programme are expected to be available in 2011.