- Feb. 24, 2017
-- Rumor has it Intellipharmaceutics (IPCI):Nasdaq (I):TSX is expected to sign a $60 million dollar partnership in the coming week(s) for Rexista™. Regabatin Xr, N Poddds & Podras. The deal is expected to consist of $60 million dollars cash non-refundable along with the partner having the right to purchase 10 million shares of Intellipharmaceutics at a 20 DMA. The said partner will cover 50% of any costs arising from any developments. Rexista™has a PDUFA date of September 25th
, 2017 and is expected to break into the Oxycodone XR sales of $2 Billion Dollars by 20%. The company will also consider what to do with certain parts of its business that don't directly impact its bottom line and the stock price. Intellipharmaceutics also announced that the Company today received final approval from the U.S. Food and Drug Administration ("FDA") for the Company's abbreviated new drug application ("ANDA") for metformin hydrochloride extended release tablets in the 500 mg and 750 mg strengths. The Company's newly approved product is a generic equivalent for the corresponding strengths of the branded product Glucophage® XR sold in the United States by Bristol-Myers Squibb.