Impax completes two acquisitions, reshapes division structure
HAYWARD, Calif. — Impax Labs completed its acquisition of Tower Holdings (which includes operating subsidiaries CorePharma and Amedra Pharmaceuticals), and Lineage Therapeutics. Impax also announced that it would reshape both the operating and reporting structure of its two divisions. The generics division will now be “Impax Generics,” with the company’s branded-products division taking on the name “Impax Specialty Pharma." The company also revealed a new logo to help better reflect its goals and objectives.
"We are pleased to complete this acquisition, which is another important step forward in executing our plan to create value through strategic acquisitions that enhance our existing strategies," said Fred Wilkinson, president and chief executive officer of Impax. "By joining together our collective capabilities, we accelerate Impax's growth while also bolstering our operating foundation with a robust product pipeline and an expanded, more diversified manufacturing footprint."
The acquisition will bring Impax’ generic portfolio up to 47 products, with the number of potential generic drug launches this year up to 18, Wilkinson said. The company’s branded portfolio also will grow thanks to four products that will be added via the Amedra acquisition. The acquisition of Lineage Therapeutics (together, the "Companies") will bring to Impax the branded Albenza franchise, Adrenaclick and its authorized generic and ten commercialized generic products, the company stated.
"Since announcing the acquisition last October, we have worked closely alongside very committed and passionate individuals at the acquired Companies," Wilkinson added. "With the acquisition complete and the organization structure established, we will now begin the most substantial aspects of the integration and we look forward to realizing the many benefits we expect to create by this combination."
In addition to a new logo, Impax said it will begin a rebranding campaign in several phases throughout 2015, which will include a change in product packaging.