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IGI Laboratories, Inc. (IG) Enters Long Term Strategic Partnership with Medimetriks Pharmaceuticals

|Includes: Teligent, Inc. (TLGT)

IGI Laboratories Inc., which engages in developing, manufacturing, filling, and packaging topical semi-solid and liquid products for cosmetic, cosmeceutical, and pharmaceutical customers in the US, announced that it has entered a long term strategic partnership with Medimetriks Pharmaceuticals, Inc.

This strategic partnership names IGI Laboratories as the developer and manufacturer of a family of prescription topical drug products, which are owned by Medimetriks Pharmaceuticals. Also, as a part of this longterm partnership, Medimetriks has designated IGI as its authorized generic distributor of select products in this line.

Medimetriks is expected to launch its new line of prescription topical brands in the second quarter of 2012. IGI Laboratories expects to begin authorized generic distribution of certain of those products shortly after.

IGI’s Chief Executive Officer, Charlie Moore, said, “This marks a significant step for IGI Laboratories as it expands into a fully-integrated developer and manufacturer of prescription topical pharmaceuticals. This partnership provides IGI the opportunity to enhance our relationship with a strong brand marketer as well as providing marketing opportunities as the authorized generic. Further, it complements our key corporate initiative, to continue to file our own Abbreviated New Drug Applications (ANDAs) and to establish a presence in the generic pharmaceutical arena. We appreciate the confidence Medimetriks has shown in IGI.”

Bradley Glassman, Chairman & CEO of Medimetriks, stated, “We have been very impressed with IGI, its staff and their commitment to customer service. IGI’s investment into its facilities the past few years is impressive and has created a solid foundation for the future. IGI and Medimetriks are ready for this partnership, which we believe is value-creating and a strategic catalyst for both of us.”

Medimetriks Pharmaceuticals Inc. is an independent specialty dermatology and podiatry company. Medimetriks operates to develop, acquire, license and commercialize innovative prescription skincare brands that fill the unmet needs in the podiatry and dermatology markets.

IGI Laboratories, Inc. operates to develop, manufacture, fill, and package topical semi-solid and liquid products for cosmetic, cosmeceutical, and pharmaceutical customers in the United States. Its products are used for various skin conditions, including the treatment of symptoms of dermatitis, acne, psoriasis, and eczema. The company was formerly known as IGI, Inc. and changed its name to IGI Laboratories, Inc. in May 2008. IGI Laboratories, Inc. was founded in 1977 and is based in Buena, New Jersey.

For more information on IGI Laboratories, visit igilabs.com

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