FTC clears Amneal, Impax merger
The Federal Trade Commission has cleared the merger of Amneal Pharmaceuticals and Impax Labs. The two companies are now able to combine, subject to the divestment of certain products.
The two companies said they expect to consummate the merger after trading closes on May 4, at which point Impax shares will stop trading on the Nasdaq, with the new company — Amneal Pharmaceuticals — to start trading on May 7 under the ticker AMRX. As part of the combination, each share of Impax common stock can be converted into the right to receive one share of Class A Amneal common stock.
Ahead of the close, the companies will be divesting products to three companies. ANI Pharmaceuticals will acquire three products that are on the market, felbamate tablets and ezetimibe, simvastatin tablets, as well as two products that have been approved but not commercialized — aspirin-dipyridamole ER capsules and methylphenidate ER tablets. It also will acquire one pending application for diclofenac-misoprostol DR Tablets and the pipeline product erythromycin tablets.
Impax will sell its interests in fluocinonide topical cream, 0.05% to G&W Labs, which owns the product’s marketing authorization. It also will sell its interests in azelastine nasal spray 0.15% and olopatadine nasal spray to Perrigo, which owns the marketing authorizations for the products.
The two companies said they expect to consummate the merger after trading closes on May 4, at which point Impax shares will stop trading on the Nasdaq, with the new company — Amneal Pharmaceuticals — to start trading on May 7 under the ticker AMRX. As part of the combination, each share of Impax common stock can be converted into the right to receive one share of Class A Amneal common stock.
Ahead of the close, the companies will be divesting products to three companies. ANI Pharmaceuticals will acquire three products that are on the market, felbamate tablets and ezetimibe, simvastatin tablets, as well as two products that have been approved but not commercialized — aspirin-dipyridamole ER capsules and methylphenidate ER tablets. It also will acquire one pending application for diclofenac-misoprostol DR Tablets and the pipeline product erythromycin tablets.
Impax will sell its interests in fluocinonide topical cream, 0.05% to G&W Labs, which owns the product’s marketing authorization. It also will sell its interests in azelastine nasal spray 0.15% and olopatadine nasal spray to Perrigo, which owns the marketing authorizations for the products.