Impax Labs acquires two generic drugs

HAYWARD, Calif. Generic drug maker Impax Labs has bought the rights to two generic drugs from Watson Pharmaceuticals and Arrow Group, which Watson recently acquired.

Impax announced that it had acquired from Watson the rights to cabergoline, a generic version of Pfizer’s Dostinex, and the pending approval application for dronabinol, a generic version of Unimed’s Marinol, from Cobalt Pharmaceuticals, a subsidiary of Arrow Group.

“Our growth initiatives include evaluating the potential to expand beyond solid oral dosage forms as well as into markets beyond our current U.S. footprint,” Impax president and CEO Larry Hsu said in a statement. “In addition, we will be open to opportunities to in-license products, as well as potential product or company acquisitions that will drive long-term profitable growth.”