April 18, 2006 > IMPAX on Wyeth's lawsuit related to generic versions of Effexor
IMPAX on Wyeth's lawsuit related to generic versions of Effexor
HAYWARD (Business Wire), April 7_IMPAX Laboratories, Inc. (OTC: IPXL) announced that Wyeth (NYSE: WYE), has filed a lawsuit against the company in the U.S. District Court of Delaware alleging patent infringement related to IMPAX's filing of an Abbreviated New Drug Application (ANDA) for generic versions of Effexor XR(R) 37.5mg, 75mg and 150mg capsules. IMPAX's submission includes a Paragraph IV certification stating the company believes its product does not infringe upon Wyeth's listed patents.
Wyeth markets Effexor XR for the treatment of depression. According to Wolters Kluwer Health, U.S. sales of Effexor XR Capsules were approximately $2.5 billion in the 12 months ending January 31.
"We intend to vigorously defend our ANDA," commented Barry R. Edwards, IMPAX's chief executive officer. "This suit is par for the course for branded pharmaceutical manufacturers attempting to keep patients from access to less expensive medications, even though their patents aren't applicable or will have expired."
IMPAX Laboratories, Inc. is a technology based specialty pharmaceutical company applying its formulation expertise and drug delivery technology to the development of controlled-release and specialty generics in addition to the development of branded products. IMPAX markets its generic products through its Global Pharmaceuticals division and intends to market its branded products through the IMPAX Pharmaceuticals division. Additionally, where strategically appropriate, IMPAX has developed marketing partnerships to fully leverage its technology platform. IMPAX Laboratories is headquartered in Hayward, and has a full range of capabilities in its Hayward and Philadelphia facilities. For more information, visit the company's website at www.impaxlabs.com.