Impopharma Inc. and Breckenridge Pharmaceutical Inc. Enter Into an Asset-Purchase Agreement to Commercialize the Generic Version of a Leading Corticosteroid Product Upon FDA Approval
TORONTO, September 28, 2017 (Newswire.com) - Impopharma Inc. (”Impopharma”) today announced that it has entered into an asset purchase, license, and commercialization agreement with Breckenridge Pharmaceutical, Inc. (“Breckenridge”).
Under terms of the agreement, Breckenridge has acquired the ANDA, and upon FDA approval, will market and distribute the product in the U.S. The product ANDA has been filed and accepted for FDA review, with a GDUFA goal for late 2017.
“We, along with our partners at Breckenridge, look forward to providing patients a safe, effective and reliable generic version of a leading anti-inflammatory medication,” said Theron 'Ted' Odlaug, Ph.D., Impopharma’s Executive Chairman. “Impopharma remains committed to its goal of providing patients access to high quality and affordable medicines in differentiated formulations.”
“Breckenridge is excited about this opportunity to collaborate with Impopharma to expand our dosage capability and grow our portfolio,” said Larry Lapila, President of Breckenridge.
Terms of the transaction were not disclosed. DSF Associates acted as advisor to Impopharma and Life Sciences Legal as Impopharma’s legal counsel for this transaction.
Impopharma is a well-resourced development and testing facility with an expert and experienced team located in Concord, Ontario, Canada that specializes in the development and testing of pulmonary and nasal drug delivery systems and ophthalmic, otic, dermal products. Please visit www.impopharma.com.
Vice President, Finance
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Breckenridge Pharmaceutical, Inc. is a privately-held own-label distributor that performs pharmaceutical marketing, research and development, as well as marketing and distribution in the U.S. The company was founded in 1983 and markets a broad range of generic prescription products in many therapeutic categories. The Breckenridge label is recognized by wholesalers, distributors, chains, and managed care accounts, as well as retail pharmacies nationwide. The company markets over 70 products in a variety of dosage forms including tablets, capsules, soft gel capsules, liquids, suspensions, ophthalmics, nasal sprays, powders and injectable products. www.bpirx.com
Breckenridge Pharmaceutical, Inc.
Brian Guy, Vice President – Business Development
Source: Impopharma Inc.
Categories: Pharmaceuticals and Biotech