2 February 2012 - US Impax Pharmaceuticals said on Wednesday it has signed a distribution, licence, development and supply deal with AstraZeneca (LON:AZN) under which Impax receives the exclusive US commercial rights to migraine medication Zomig (zolmitriptan) tablet, orally disintegrating tablet and nasal spray formulations.

As part of the agreement, Impax will also have non-exclusive rights to develop new products containing zolmitriptan and to exclusively commercialise these products in the US in connection with the Zomig brand.

AstraZeneca is entitled to quarterly payments from Impax totalling USD130m (EUR98.6m) in 2012. Beginning from 2013, Impax will pay AstraZeneca tiered royalties on future sales of zolmitriptan products. Impax will receive the benefit of the gross profit on US sales of Zomig starting from 1 January 2012.

The deal is expected to be immediately accretive on a non-GAAP basis to Impax's earnings per share (EPS) in 2012. The Zomig brand is expected to contribute meaningfully to total company revenues and earnings in 2012 and 2013.

Impax is the branded products division of Impax Laboratories Inc (NASDAQ:IPXL).

(USD1 = EUR0.759)