Amneal Pharmaceuticals and Impax Laboratories have announced that the companies will merge, with the new company to be called Amneal Pharmaceuticals, Inc. The merger is expected to be complete by mid-2018.
OINDPs marketed by Amneal include generic versions of TOBI inhalation solution and Astelin and Nasonex nasal sprays. Impax acquired US rights to Zolmig zolmitriptan nasal spray for the treatment of migraine headaches in 2012, and it markets generic versions of Pulmicort Respules and Xopenex inhalation solution.
Amneal Pharmaceuticals, Inc will have a pipeline of more than 300 products in development, which the companies say is “a foundation for international expansion with select commercial presence in the United Kingdom and Germany, and cost-efficient global manufacturing and development capabilities in all dosage forms.”
The companies cite their R&D capabilities and planned investment in complex dosage forms, including inhalation and drug-device combinations, as a driver for future growth. Earlier this year, Amneal signed a development deal with Swedish DPI developer Iconovo.
Amneal Co-CEO and Co-Chairman Chirag Patel commented, “In the 15 years since our family founded Amneal, we have established the company as a leader in the US generic pharmaceuticals industry, and today marks an important milestone in these efforts. This transaction combines the complementary strengths of both Amneal and Impax to create an even stronger company with the diversification, capabilities and resources to deliver enhanced value for patients, new opportunities for our collective employees and increased growth and value creation for shareholders.”
Impax President and CEO Paul Bisaro said, “This combination delivers on several key stated growth objectives for Impax. By combining Amneal and Impax, we create a more diversified company with one of the industry’s leading high-value generic product pipelines and a growing specialty business. Our combined portfolio will be supported by global, high-quality development and manufacturing capabilities.”
Read the Amneal and Impax press release.
