Impax Buyouts Add Plant, Portfolio And Pipeline
This article was originally published in The Pink Sheet Daily
By acquiring three interrelated, privately held companies, Impax adds several branded and generic products, a substantial generic pipeline and an FDA-licensed manufacturing site in New Jersey.
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"Unless we make changes in the system people won’t be able to afford" drugs coming out of our pipelines, Merck’s Frazier says; Pfizer’s Read contends competition is best way to curtail prices.
Belgium’s mid-sized pharma sells its U.S. generics business to two private equity companies, improving its flexibility to acquire new assets and businesses, and allowing it to pay down debt.
Since Impax Laboratories’ CEO Wilkinson took the helm in April, the company has completed several significant deals and most recently restructured R&D to deliver savings, but a successful turnaround will require resolving outstanding manufacturing issues.