GlaxoSmithKline (GSK +0.1%) breaks off its relationship with Impax Laboratories (IPXL -1.1%)...

|About: GlaxoSmithKline (GSK)|By:, SA News Editor

GlaxoSmithKline (GSK +0.1%) breaks off its relationship with Impax Laboratories (IPXL -1.1%) regarding the experimental Parkinson's drug Rytary due to "delays in the anticipated regulatory approval and launch dates in the countries in which GSK has rights to commercialize the product." GSK was working to develop and market Rytary outside of the U.S. and Taiwan. IPXL shares have yet to fully recover from a steep decline in March stemming from FDA concerns about the testing and evaluation process for Rytary. (PR)