Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,299.60 +5.11 0.03%
S&P 500 1,646.96 -3.55 -0.22%
Nasdaq 3,456.38 -3.04 -0.09%
Ticker Volume Price Price Delta
STOXX 50 2,764.29 -12.49 -0.45%
FTSE 100 6,654.34 -42.45 -0.63%
DAX 8,305.32 -46.66 -0.56%
Ticker Volume Price Price Delta
Nikkei 14,612.50 +128.47 0.89%
Hang Seng 22,618.70 -51.01 -0.23%
S&P/ASX 200 4,983.50 -78.95 -1.56%

Impax Fails to Win Approval for Parkinson’s Drug

Impax Laboratories Inc. (IPXL) failed to win U.S. approval for a new version of an extended-release drug used to relieve spasms in patients with Parkinson’s disease.

The Food and Drug Administration requires a re-inspection of a plant involved in the development of the medicine called Rytary, which combines standard Parkinson’s medications in a new sustained release formulation, the Hayward, California-based company said today in a statement. A warning letter was issued in May 2011, Impax said.

“We will work with the FDA on the appropriate next steps for the Rytary application,” said Larry Hsu, president and CEO of Impax, in the statement. “We remain committed to resolving the warning letter and bringing this new treatment option to patients who are suffering from Parkinson’s disease.”

The medication would likely be used most among patients for whom the standard medicines, levodopa and carbidopa, have stopped working as reliably, said David Amsellem, an analyst with Piper Jaffray & Co. in New York. Rytary could generate peak sales of $200 million to $300 million, Amsellem said.

“A controlled-release product is something that has been elusive over the years,” Amsellem said in a telephone interview.

Impax, which specializes in controlled-release drugs, will develop and sell Rytary in the U.S. and Taiwan while GlaxoSmithKline Plc (GSK), based in London, will market it in other regions throughout the world. Impax already markets a generic version of a longer-acting combination called Sinemet, sold by Merck & Co. (MRK)

Merck’s Sinemet extended-release carbidopa-levodopa tablet received approval in 1991 though it’s not widely used, Amsellem said. People who use it are more likely to suffer impairment of voluntary movement than those who use the immediate-release version, according to the label for the medication.

Involuntary Movements

Patients with advanced Parkinson’s disease who used Rytary experienced a 34 percent decrease in the amount of time during waking hours when the medication wore off and involuntary muscle movements returned, the companies said in an August 2011 statement. This was compared with a decrease of 10 percent for those who used the immediate-release generic drugs combined with entacapone, a medicine that helps more of the other treatments reach the brain.

The starting point was 5.9 hours, improving to 3.8 hours of “off time” when Rytary wore off compared with 5.2 hours for the generics.

Parkinson’s is a progressive neurological disorder that causes body tremors, the loss of muscle control and impaired movement, according to the National Institutes of Health. There is no cure. A variety of medicines provide relief from symptoms for the estimated 10 million people worldwide with the disease.

To contact the reporter on this story: Anna Edney in Washington at aedney@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Personal Finance Best Sellers From Amazon

Key Rates

  • Mortgage
  • Home Equity
  • Savings
  • Auto
  • Credit Cards
Today’s national average mortgage rates. Rates may include points.
Type Today 1 Mo
30 Year Fixed Jumbo 4.03% 3.94%
30 Year Fixed 3.77% 3.47%
15 Year Fixed 2.88% 2.71%
10 Year Fixed 2.98% 3.00%
30 Year Fixed Refi 3.76% 3.46%
15 Year Fixed Refi 2.88% 2.68%
5/1 ARM 2.66% 2.61%
5/1 ARM Refi 2.64% 2.56%
View rates in your area »

Source: Bankrate.com

Today’s average home equity rates nationwide.
Type Today 1 Mo
$30K HELOC 5.34% 5.24%
$50K HELOC 4.56% 4.53%
$75K HELOC 4.57% 4.53%
$100K HELOC 4.27% 4.21%
$30K Home Equity Loan 5.95% 6.06%
$50K Home Equity Loan 5.97% 6.02%
$75K Home Equity Loan 5.94% 5.99%
$100K Home Equity Loan 5.80% 5.84%
View rates in your area »

Source: Bankrate.com

Today’s average savings rates nationwide.
Type Today 1 Mo
5 Year CD 1.24% 1.21%
2 Year CD 0.70% 0.66%
1 Year CD 0.57% 0.52%
MMA $10K+ 0.47% 0.50%
MMA $50K+ 0.69% 0.70%
MMA Savings Jumbo 0.58% 0.60%
View rates in your area »

Source: Bankrate.com

Today’s average auto loan rates nationwide.
Type Today 1 Mo
60 Months Used Car 2.97% 3.19%
48 Months Used Car 2.92% 3.13%
36 Months Used Car 2.88% 2.96%
72 Months New Car 2.45% 2.96%
60 Months New Car 2.54% 2.67%
48 Months New Car 2.45% 2.58%
60 Months Auto Refi 4.15% 4.36%
36 Months Auto Refi 3.60% 3.76%
View rates in your area »

Source: Bankrate.com

Today’s average credit card rates nationwide.
Type Today 1 Mo
Standard Variable 14.12% 14.12%
Standard Fixed 13.23% 13.23%
Gold Variable 12.70% 12.70%
Gold Fixed 11.99% 11.99%
Platinum Variable 15.53% 15.57%
Platinum Fixed 12.70% 12.70%
View rates in your area »

Source: Bankrate.com