BUENA, N.J., Nov. 1, 2013 /PRNewswire/ -- IGI Laboratories, Inc. (NYSE MKT: IG), a New Jersey based generic topical pharmaceutical company, today announced it has submitted its fifth abbreviated new drug application (ANDA) in 2013 to the U.S. Food and Drug Administration (FDA), which brings the Company's total number of ANDA submissions to thirteen.
Jason Grenfell-Gardner, President and CEO of the Company, commented, "This submission brings our total number of abbreviated new drug applications on file with the FDA to thirteen. We believe our current pipeline of submissions pending approval by the FDA has a combined addressable market of approximately $325 million based on recent data from IMS Health. The most recent data indicate that the market dynamics in the topical pharmaceutical industry continue to be strong. Our successful execution and continuous expansion of our pipeline will allow us to be well positioned to fulfill our mission to be a leading player in the generic topical prescription drug market."
About IGI Laboratories, Inc.
IGI Laboratories is a generic topical pharmaceutical company. We develop and manufacture topical formulations for the pharmaceutical, OTC, and cosmetic markets. Our mission is to be a leading player in the generic topical prescription drug market.