Amneal and Impax combine to create 5th largest US generics company

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US generics makers Amneal Pharmaceuticals (Amneal) and Impax Laboratories (Impax) announced on 17 October 2017 that they had entered into a definitive deal to combine the two companies.

Business Aquisition V13F07

The combined company, which will be called Amneal Pharmaceuticals, will have a generics business that is expected to rank as the 5th largest in the US by gross revenue and a growing, high-margin specialty franchise. Products from Impax’s specialty portfolio include Parkinson’s medication Rytary (carbidopa/levodopa), headache medicine Zomig Nasal Spray (zolmitriptan), pinworm treatment Emverm (mebendazole) and parasitic worm treatment Albenza (albendazole).

In addition to its broad existing commercial product portfolio, the combined organization will have a diverse and differentiated pipeline with more than 300 products either filed with the US Food and Drug Administration or in active stages of development. The combined company has 150 pending abbreviated new drug applications (ANDAs) and 165 projects in active stages of development. A significant number of the marketed products also hold the 1st or 2nd position in their relevant markets.

The deal will, according to Paul Bisaro, President and Chief Executive Officer of Impax, ‘create a more diversified company with one of the industry’s leading high-value generic drug product pipelines and a growing specialty business’.

The transaction is expected to generate US$200 million of annual cost savings within three years due to synergies within the two companies. It will also give Amneal Holdings members 75% and Impax shareholders approximately 25% of the new company’s pro forma shares on an as converted basis.

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Source: Amneal, Impax

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