EX-99.1
2
v421557_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
News
From
Buena, NJ 08310
Release Date: October 5, 2015
Contact
:
Jenniffer Collins
IGI Laboratories, Inc.
(856) 697-4379
www.igilabs.com
IGI LABORATORIES, INC. ANNOUNCES ACQUISITION
OF
THREE COMMERCIALIZED INJECTABLE PRODUCTS
Products Deliver Contribution To 2015
Financial Results
BUENA, NJ -
(PRNewswire) - IGI Laboratories, Inc.
(NYSE MKT: IG), a New Jersey-based specialty generic pharmaceutical company, today announced it has acquired three currently marketed
injectable products from Concordia Pharmaceuticals, Inc., S.À.R.L., for $10 million in cash: Fortaz®, Zinacef
TM
,
and Zantac® Injection. According to IMS Health, the current addressable market in the United States for these products is estimated
at $26 million as of August 2015.
Jason Grenfell-Gardner, President and CEO of IGI, commented,
"This transaction delivers contribution to our fourth quarter of 2015 financial results. It is consistent with our TICO strategy,
and accelerates our commercial entry into the sterile injectable market. These products, while branded, compete in genericized
markets for these product forms, and thus should allow us to leverage our existing value chain for sales, marketing, and distribution
of these products. In addition, Zinacef
TM
and Fortaz® complement IGI's pipeline of hospital-administered anti-infective
injectables, which is a market segment we believe is best served by a portfolio approach. Our business development team will continue
to focus on acquiring currently marketed assets that are aligned with our TICO strategy".
About the Products
Zantac® Injection (Ranitidine Hydrochloride) is indicated
in some hospitalized patients with pathological hypersecretory conditions or intractable duodenal ulcers, or as an alternative
to the oral dosage form for short-term use in patients who are unable to take an oral medication.
Fortaz® (Ceftazidime) is indicated for the treatment of
patients with infections caused by susceptible strains of the designated organisms in the following diseases: lower respiratory
tract, skin and skin-structure, urinary tract, bacterial septicemia, bone and joint, gynecological, intra-abdominal, and CNS infections.
Zinacef
TM
(Cefuroxime Sodium) is indicated for the
treatment of patients with infections caused by susceptible strains of the designated organisms in the following diseases: lower
respiratory tract, urinary tract, skin and skin-structure infections, septicemia, meningitis, gonorrhea, and bone and joint infections
About IGI Laboratories, Inc.
IGI Laboratories is a specialty generic
pharmaceutical company. Our mission is to be a leading player in the specialty generic prescription drug market.
Forward-Looking Statements
This press release includes certain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release
that are not historical facts and statements identified by words such as "plan", "believe", "continue,"
"should" or words of similar meaning. Factors that could cause actual results to differ materially from these expectations
include, but are not limited to: our inability to meet current or future regulatory requirements in connection with existing or
future ANDAs; our inability to achieve profitability; our failure to obtain FDA approvals as anticipated; our inability to execute
and implement our business plan and strategy; the potential lack of market acceptance of our products; our inability to protect
our intellectual property rights; changes in global political, economic, business, competitive, market and regulatory factors;
and our inability to complete successfully future product acquisitions. These statements are based on our current beliefs or expectations
and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors"
in IGI Laboratories, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other periodic reports
we file with the Securities and Exchange Commission. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking
statements contained in this document as a result of new information, future events or otherwise, except as required by law.

EX - 99 . 1 2 v421557 _ ex99 - 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 News From Buena , NJ 08310 Release Date : October 5 , 2015 Contact : Jenniffer Collins IGI Laboratories , Inc . ( 856 ) 697 - 4379 www.igilabs.com IGI LABORATORIES , INC . ANNOUNCES ACQUISITION OF THREE COMMERCIALIZED INJECTABLE PRODUCTS Products Deliver Contribution To 2015 Financial Results BUENA , NJ - ( PRNewswire ) - IGI Laboratories , Inc . ( NYSE MKT : IG ) , a New Jersey - based specialty generic pharmaceutical company , today announced it has acquired three currently marketed injectable products from Concordia Pharmaceuticals , Inc . , S . À . R . L . , for $ 10 million in cash : Fortaz ® , Zinacef TM , and Zantac ® Injection . According to IMS Health , the current addressable market in the United States for these products is estimated at $ 26 million as of August 2015 . Jason Grenfell-Gardner , President and CEO of IGI , commented , " This transaction delivers contribution to our fourth quarter of 2015 financial results . It is consistent with our TICO strategy , and accelerates our commercial entry into the sterile injectable market . These products , while branded , compete in genericized markets for these product forms , and thus should allow us to leverage our existing value chain for sales , marketing , and distribution of these products . In addition , Zinacef TM and Fortaz ® complement IGI 's pipeline of hospital - administered anti - infective injectables , which is a market segment we believe is best served by a portfolio approach . Our business development team will continue to focus on acquiring currently marketed assets that are aligned with our TICO strategy " . About the Products Zantac ® Injection ( Ranitidine Hydrochloride ) is indicated in some hospitalized patients with pathological hyper secretory conditions or intractable duodenal ulcers , or as an alternative to the oral dosage form for short - term use in patients who are unable to take an oral medication . Fortaz ® ( Ceftazidime ) is indicated for the treatment of patients with infections caused by susceptible strains of the designated organisms in the following diseases : lower respiratory tract , skin and skin - structure , urinary tract , bacterial septicemia , bone and joint , gynecological , intra - abdominal , and CNS infections . Zinacef TM ( Cefuroxime Sodium ) is indicated for the treatment of patients with infections caused by susceptible strains of the designated organisms in the following diseases : lower respiratory tract , urinary tract , skin and skin - structure infections , septicemia , meningitis , gonorrhea , and bone and joint infections About IGI Laboratories , Inc . IGI Laboratories is a specialty generic pharmaceutical company . Our mission is to be a leading player in the specialty generic prescription drug market . Forward - Looking Statements This press release includes certain " forward - looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995 . These forward - looking statements include , but are not limited to , plans , objectives , expectations and intentions , and other statements contained in this press release that are not historical facts and statements identified by words such as " plan " , " believe " , " continue , " " should " or words of similar meaning . Factors that could cause actual results to differ materially from these expectations include , but are not limited to : our inability to meet current or future regulatory requirements in connection with existing or future ANDAs ; our inability to achieve profitability ; our failure to obtain FDA approvals as anticipated ; our inability to execute and implement our business plan and strategy ; the potential lack of market acceptance of our products ; our inability to protect our intellectual property rights ; changes in global political , economic , business , competitive , market and regulatory factors ; and our inability to complete successfully future product acquisitions . These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties , including those set forth under the caption " Risk Factors " in IGI Laboratories , Inc . 's most recent Annual Report on Form 10 - K , Quarterly Reports on Form 10 - Q and other periodic reports we file with the Securities and Exchange Commission . IGI Laboratories , Inc . does not undertake any obligation to update any forward - looking statements contained in this document as a result of new information , future events or otherwise , except as required by law .
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