Positive top-line Ph III results of Impax and GSK IPX066 in advanced Parkinson's disease

USA-based Impax Pharmaceuticals, the branded products division of Impax Laboratories, (Nasdaq: IPXL), and UK drugs giant GlaxoSmithKline (LSE: GSK) have announced top-line results of the ASCEND-PD Phase III clinical study of IPX066 versus carbidopa-levodopa plus entacapone (CLE), in patients with advanced Parkinson’s disease (PD).

The news was welcomed by US investors, who pushed the share price of Impax Labs 10.9% higher to $18.63, and also benefitted GSK, which edged up 1.5% on the New York Stock Exchange yesterday to $41.90 and started this morning on the London market up 2.5% to £12.80.

GSK acquired rights to develop and commercialize IPX066, an extended release capsule formulation of carbidopa-levodopa (CD-LD) under investigation for the treatment of the motor symptoms of PD, worldwide, excluding the USA and Taiwan., last year (The Pharma Letter December 17, 2010), in return for an upfront $11.5 million plus potential payments of up to $175 million on the successful achievement of development and commercialization milestones. Impax, which retains US and Taiwan rights for itself, will also receive tiered, double-digit royalty payments on GSK sales of IPX066, which the US firm will manufacture and supply to GSK.