- Intellipharmaceutics International ( OTC:IPCIF ) on Tuesday said it had inked a Canadian license and supply agreement with Taro Pharmaceuticals ( NYSE: TARO ) for depression treatment desvenlafaxine.
- Shares of OTC-listed IPCIF closed 18.6% higher at $0.10 on Monday while NYSE-listed TARO closed -2.8% at $33.26.
- As per the deal, IPCIF granted TARO an exclusive license to market, sell and distribute in Canada desvenlafaxine extended-release tablets in the 50 mg and 100 mg strengths.
- "There can be no assurance that the licensed product will be successfully commercialized and produce significant revenue for the company," IPCIF said in a statement .
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Intellipharmaceutics inks license deal with Taro for depression tablets desvenlafaxine