GlaxoSmithKline (GSK) plc and Impax Pharmaceuticals have announced that they are terminating their collaboration for the development and commercialization of IPX066 outside the United States and Taiwan.
IPX066 is a carbidopa-levodopa extended release product in Phase III development for the symptomatic treatment of Parkinson’s disease and is not approved anywhere in the world.
Under the terms of the agreement entered into in December 2010, GSK’s right to develop and commercialize IPX066 outside the United States and Taiwan will transfer back to Impax with effect at the end of July 2013.
The decision has been reached because of delays in the anticipated regulatory approval and launch dates in countries in which GSK has rights to commercialize the product.
Impax will take over development of IPX066 on a worldwide basis while seeking the opportunity to partner its rights in markets outside of the United States.
GSK remains committed to discovering, developing and delivering innovative medicines for patients with Parkinson’s disease.
GlaxoSmithKline - one of the world’s leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer.