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news.GlaxoSmithKline (GSK) and Impax Pharmaceuticals have terminated the development and commercialization deal on a carbidopa-levodopa extended release product IPX066 outside the US and Taiwan.
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The termination is attributed to delay in the expected regulatory approval and launch dates in countries where GSK holds commercialization rights.
According to the terms of the deal signed between the two companies in December 2010, GSK’s development and commercialization rights to the product in the US and Taiwan will be transferred back to Impax, effective end of July 2013.
Impax is looking to partner the rights of IPX066 in markets outside of the US while carrying out development activities on a worldwide basis.
IPX066 that is being evaluated in Phase III study for the symptomatic treatment of Parkinson’s disease, has not been approved anywhere in the world.