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Impax, Perrigo to jointly develop topical generic drug

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Impax Laboratories and Perrigo Company have signed a deal to develop and manufacture an undisclosed topical generic drug.

The terms of the deal that also involves marketing of the extended topical generic product were not revealed.

Impax Laboratories president and CEO Larry Hsu said, "In just over two years, Impax has partnered with four different companies on 27 alternative dosage form products, with 18 of these either pending approval at the U.S. Food and Drug Administration or under development."

Impax applies its formulation expertise and drug delivery technology in the invention of controlled-release and specialty generics besides branded drugs.

Perrigo chairman, president and CEO Joseph Papa said, "We are pleased to be partnering with Impax on this opportunity to be first to market with this important new product, making quality healthcare more affordable for our customers as quickly as possible."