April 29 (Reuters) - Impax Laboratories Inc saidpartner GlaxoSmithKline Plc ended their collaboration onImpax's experimental Parkinson's disease drug due to regulatoryand launch delays in the countries in which GSK has rights tomarket the drug.
Impax shares fell 2 percent to $17.32 in premarket tradeafter closing at $17.62 on Friday on the Nasdaq.
Under a deal, GlaxoSmithKline had the right to develop andmarket the drug, IPX066, outside the United States and Taiwan.
Rights to the drug, which is known as Rytary in the UnitedStates, will transfer back to Impax at the end of July 2013.
Impax did not disclose the financial impact of the dealtermination, if any. It said it plans to find a partner orpartners for markets outside the United States.
Rytary is an extended-release capsule being developed forthe symptomatic treatment of adult patients with idiopathicParkinson's disease.
Glaxosmithkline (GSK)