Teva Unloads 15 Generics on Impax

To fulfill a condition of its $40.1 billion acquisition of Allergan’s (NYSE: AGN) U.S. generics business, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) agreed to sell a broad portfolio of generic products across solid oral, inhalable, injectable and topical dosage forms to Impax Laboratories Inc. (NASDAQ: IPXL). The $586 million price includes the return to Impax of its rights to its pending Abbreviated New Drug Application (ANDA) for the generic equivalent to Concerta®. Impax is using existing cash and $400 million in new fully committed term loans, provided by RBC Capital Markets. Upon closing, Impax expects to add a portfolio of 15 currently marketed generic products; one... Read More »