Under the agreement, Par is to pay IntelliPharmaCeutics 15 million dollars upon approval, and royalties that are expected to be around 40 million per year. This will bring the company into profitability. Decision for approval of Focalin XR is imminent as you can see in this link.
July 16, 2012, Par Pharmaceutical Companies, Inc. (NYSE:PRX) announced today that it has entered into a definitive merger agreement to be acquired by an affiliate of TPG in a transaction with an equity value of $1.9 billion. Clearly, there is much interest in the specialty pharmaceutical space which may bode well for Intellipharmaceutics, (Nasdaq: IPCI) which has a strategic alliance/license & commercialization agreement with Par for generic focalin XR. Generic Focalin XR is indicated for ADHD and Intellipharmaceutics has an ANDA filed with the FDA for 5,10, 15 and 20 mg strengths with a potential launch in the fourth quarter of 2012.