IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI)’s Latest Stock News


Dallas, Texas 03/26/2014 (FINANCIALSTRENDS) – IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) which is a pharma company that specializes in research & development as well as the manufacture of novel & generic controlled-release & targeted-release oral solid-dosage drugs, recently announced the receipt of around $3.1 million payment related to the commercial sales of its dexmethylphenidate hydrochloride as the 1st extended-release-capsules by the company’s licensee-Par Pharmaceutical. This represents IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI)’s share of profits for its 15 & 30 mg strengths of this drug product for the period that started with the 1st Nov 19, 2013 and ended Dec 31, 2013 under the License & Commercialization Agreement with Par.

The future profit-share-payments are now expected on the quarterly basis, although these amounts of any of such payments cannot be determined now and might vary significantly from one time to another. As the 1st IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) currently has 180-days exclusivity in generic sales for that particular strength from the Nov 19, 2013 launch date in the United States through Par. In addition to this, IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) also has the potential to actually receive the share of the profits on its 5, 10, 20 & 40 mg strengths that had also been tentatively approved by U.S Food and Drug Administration.

This approval was subject to the right of the other party/ parties to 180-days of generic exclusivity from date of its first launch of the strengths of this drug product by such parties. Currently, IntelliPharmaCeutics Intl Inc (USA) (NASDAQ:IPCI) believes that Par intends to also launch the strengths immediately on expiry of those particular exclusivity periods & upon anticipated final-approvals from the regulator at those times, however there cannot be an assurance as to if/ when any these approvals/ launches will occur.