Impax buys US rights to Zomig

1 February 2012

Impax Pharmaceuticals, the branded products business unit of Impax Laboratories (Nasdaq: IPXL) has licensed from Anglo-Swedish drug major AstraZeneca (LSE: AZN) the exclusive US commercial rights to Zomig (zolmitriptan) orally disintegrating tablet and nasal spray formulations.

Under terms of the deal, Impax make quarterly payments to AstraZeneca totaling $130 million during 2012 and, thereafter, Impax will pay AstraZeneca tiered royalties on future sales of zolmitriptan products. Impax will receive the benefit of the gross profit on US Zomig sales commencing from January 1, 2012.

Impax can develop further zolmitriptan-containing products

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