Impax to purchase generic assets from Teva and Allergan

Impax has signed a series of definitive agreements with Teva and Allergan to purchase a number of generic drug assets.

The deal encompasses a number of solid oral, inhalable, injectable and topical dosage forms, as well as allowing Impax to regain the rights to its pending abbreviated new drug application for a generic version of Concerta.

In total, it includes 15 currently marketed generic products; one approved product and two approved strengths of a current therapy that have not yet launched; one pipeline generic product and a new pipeline strength of a current product; and another generic product under development.

The aggregate purchase price has been calculated at $586 million (398.24 million pounds), and Impax expects that the deal will considerably strengthen its presence in the generic medicines market.

Fred Wilkinson, president and chief executive officer of Impax, said: "The anticipated acquisition of these currently marketed and pipeline products fits with our strategic priorities of maximising our generic platform, optimising research and development, and accelerating business development to create long-term growth."