Amneal Pharmaceuticals and Impax Laboratories form Amneal Pharmaceuticals
9 May 2018 -

US-based Amneal Pharmaceuticals and Impax Laboratories, an integrated specialty pharmaceutical company, have integrated to establish Amneal Pharmaceuticals, it was reported on Tuesday.

Amneal is now claimed to be the fifth largest generics business in the US. Shares in Impax (IPXL) withdrew trading on the NASDAQ stock exchange on 4 May this year and Amneal commences trading on the New York Stock Exchange under the ticker 'AMRX'.

Based on the business combination agreement, each share of Impax common stock was converted into the right to receive one share of Amneal Class A common stock.

Amneal said that it expects to generate annual double-digit revenue and adjusted EPS growth and to achieve annual cost synergies of approximately USD200 million within three years.