Impax Laboratories, Inc.NASDAQ
Tue, Jun. 21, 7:54 AM
- Impax Laboratories (NASDAQ:IPXL) acquires a group of 15 generic drugs from Teva Pharmaceutical Industries (NYSE:TEVA) and affiliates of Allergan (NYSE:AGN) for total consideration of $586M. The transaction also includes the return of the rights to the pending abbreviated New Drug Application (ANDA) for a generic version of Johnson & Johnson's (NYSE:JNJ) Concerta (methylphenidate hydrochloride) to Impax.
- The deal will be immediately accretive to Impax's earnings. The group generated ~$150M in sales and ~$100M in gross profit in 2015. Per IMS, the U.S. market for the portfolio is ~$3.1B.
- Impax will finance the acquisition with cash on hand and $400M in term loans.
- Teva divested the products to satisfy U.S. Federal Trade Commission conditions for its planned acquisition of Allergan's generics business.
Apr. 8, 2015, 11:47 AM
- Mylan (MYL +10.4%) submits a non-binding proposal to Perrigo (PRGO +27.6%) to acquire it for $205 per share in a cash-and-stock deal. If consummated, the combined company would generate over $15B in annual sales.
- Generic drug-related tickers: (LCI +3%)(AKRX +4.4%)(MNK +2.8%)(IPXL +2.3%)(TARO +2.3%)(TEVA +3.2%)
Mar. 10, 2015, 8:59 AM
- Impax Laboratories (NASDAQ:IPXL) completes its acquisition of Tower Holdings and Lineage Therapeutics, companies specializing in the development, manufacture and commercialization of complex generic and branded pharmaceuticals. The deal adds four branded and ten generic drugs to Impax's portfolio. It now has 47 total generics with a potential to launch up to 18 more this year, including nine that are not yet approved.
- For 2015, Impax projects adjusted gross margins in the mid-50% range; R&D expenses of $80M - 85M; SG&A expenses of $170M - 180M and CAPEX of $45M - 50M.
- Previously: Impax buys Tower Holdings and Lineage Therapeutics (Oct. 9, 2014)
Oct. 9, 2014, 9:46 AM
- Impax Laboratories (IPXL +13.9%) acquires Tower Holdings, including operating subsidiaries CorePharma LLC and Amedra Pharmaceuticals LLC, and Lineage Therapeutics for $700M in cash. The privately-held companies specialize in the development, manufacture and commercialization of complex generic and branded pharmaceuticals.
- The transaction is expected to add $0.90 to Impax's 2015 EPS.