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Generic drugmaker Impax Laboratories Inc (IPXL) has asked investment bank Morgan Stanley (MS) to help it conduct a strategic review, as it tries to cope with a tougher drug pricing environment, people familiar with the matter said.
Update(s):
September 21, 2017: Impax Laboratories Inc.(IPXL) is in talks to combine with rival Amneal Pharmaceuticals LLC as the companies seek to build strength in a challenging market for generic-drug makers.
October 16, 2017: Impax Laboratories Inc. (IPXL) and Amneal Pharmaceuticals LLC are close to agreement on a merger that would create the nation’s fifth-largest generic-drug company by revenue, according to people familiar with the matter.
October 17, 2017: Amneal Pharmaceuticals LLC and Impax Laboratories, Inc. (IPXL) today announced that they have entered into a definitive business combination in an all-stock transaction. As a result of the transaction, Amneal Holdings members will own approximately 75% and Impax shareholders will own approximately 25% of the new company’s pro forma shares on an as converted basis.