BUENA, N.J., March 3, 2014 /PRNewswire/ -- IGI Laboratories, Inc. (NYSE MKT: IG), a New Jersey based generic topical pharmaceutical company, today announced it has submitted its first abbreviated new drug application (ANDA) in 2014 to the U.S. Food and Drug Administration (FDA), which brings the Company's total number of ANDA submissions to fourteen.
Jason Grenfell-Gardner, President and CEO of the Company, commented, "We now have fourteen ANDAs on file with the FDA. We believe our current pipeline of submissions pending approval by the FDA has a combined addressable market of approximately $330 million based on recent data from IMS Health. 2014 is our year of transformation, as we grow and develop into a leader in the topical generic pharmaceutical industry. We have an aggressive target in 2014, to file ten ANDAs with the FDA, so we must stay focused as we continue to build our R&D team and maintain our forward momentum as we expand our pipeline."
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.
For further information:
Jenniffer Collins
IGI Laboratories, Inc.
(856) 697-4379
www.igilabs.com