US-based IGI Laboratories will introduce its first IGI labeled generic products later this year.
As part of the launch, IGI as an authorized generic products distributor for Medimetriks Pharmaceuticals will distribute certain generic products of Medimetrik's recently launched Synalar (fluocinolone acetonide) line of prescription topical products.
On 1 November 2012, IGI received rights to launch generic distribution of certain of Synalar products.
IGI president and chief executive officer Jason Grenfell-Gardner said IGI will work closely with Medimetriks to launch the generic topical prescription products as long term strategy.
''Current market conditions indicate a total addressable market for our first three products of approximately $30 million, of which we expect to achieve a meaningful market share," Gardner added.
"Launch activity has begun and with this authorization to go to market, there are only a few steps left before our first IGI labeled generic topical product is ready to launch.
''We are finalizing the necessary state licensing requirements needed for commercial distribution and are far along in the process."
