Impax to acquire various generics from Teva

HAYWARD, Calif. — Impax Laboraties announced Tuesday that it would be acquiring a broad portfolio of generics Teva is selling ahead of the close of its acquisition of Allergan’s generics business. The range of products includes solid, oral, injectable, inhalable and topical drugs, as well as the rights to the abbreviated new drug application for a generic of Concerta. 

 

The $586 million purchase will see the company acquire 15 currently marketed products; one approved generic and two approved dosage strengths of a marketed product that haven’t launched yet; one pipeline generic and one pipeline dosage strength of a currently marketed generic; the full commercial rights to the Concerta generic; and one in-development generic. 

 

“The anticipated acquisition of these currently marketed and pipeline products fits with our strategic priorities of maximizing our generic platform, optimizing R&D and accelerating business development to create long term growth,” Impax president and CEO Fred Wilkinson said. “Through this transaction, we will be expanding our portfolio of difficult-to-manufacture or limited-competition products and maximizing utilization of our existing manufacturing facilities in Hayward, California and Taiwan. The acquisition of full commercial rights to generic Concerta provides an additional opportunity to add another valuable near term launch and accentuates the strength of our internal R&D program.”

 

The acquired marketed products had about $150 million in net sales and $100 million in gross profit  and the pending and development pipelines are expected to generate some $3.1 billion, according to IMS Health data for the 12 months ended March 2016. The company expects the acquisition to close by June 30 and for it to be immediately accretive to earnings.