TORONTO, Jan. 06, 2017 (GLOBE NEWSWIRE) — Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I) (“Intellipharmaceutics” or the “Company”), a biologic aggregation specializing in the research, development and accomplish of atypical and all-encompassing controlled-release and targeted-release articulate solid dosage drugs today appear that its United States (“U.S.”) business partner, Par Biologic (“Par”), has launched the 25 and 35 mg strengths of its all-encompassing Focalin XR® (dexmethylphenidate hydrochloride extended-release) capsules in the U.S. The U.S. Food and Biologic Administration (“FDA”) has accepted final approval to Par’s abbreviated new biologic appliance (“ANDA”) for its generic Focalin XR® capsules in the 5, 10, 15, 20, 25, 30, 35 and 40 mg strengths. The Aggregation is clumsy to accompaniment or appraisal an absolute barrage date of any absolute strengths, but currently intends to accommodate an amend already it is brash by Par of the barrage of any added strengths of its all-encompassing Focalin XR®.
As the aboriginal filer of an ANDA for all-encompassing Focalin XR® in the 25 and 35 mg strengths, Par will accept 180 canicule of U.S. all-encompassing business exclusivity for those strengths. Under a licensing and commercialization acceding amid the Aggregation and Par, the Aggregation receives anniversary profit-share payments on Par’s U.S. sales of all-encompassing Focalin XR®.
Dr. Isa Odidi, the CEO and a
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