Impax Laboratories, Inc.
) announced that it has acquired two generic products from
) for a cash consideration.
The financial terms of the agreement were not disclosed.
As per the agreement, Impax will acquire Ursodiol tablet and
Lamotrigine orally disintegrating tablet. We note that the
Abbreviated New Drug Application (ANDA) for Lamotrigine has been
approved but the product is not marketed yet.
The acquisition will broaden Impax's generics' portfolio which
includes generic Adderall XR, fenofibrate (generic to Lofibra) and
oxymorphone HCI ER.
We note that Impax has been working actively on strengthening
its generic products portfolio in recent times. In Apr 2014, Impax
had launched the authorized generic version of
) Renvela, which will significantly boost the top line in 2014.
Moreover, Impax is seeking approval for its pending ANDA for
generic Renvela with the FDA.
Meanwhile, Impax is looking to get its late-stage candidate,
Rytary, approved for the symptomatic treatment of Parkinson's
disease. The FDA accepted Impax's re-submission of New Drug
Application (NDA) for Rytary in Apr 2014.
The FDA will inspect the manufacturing facilities involved in
the production of Rytary. A response from the agency should be out
by Oct 9, 2014. Impax also intends to file for EU approval for
Rytary in the second half of 2014.
Impax currently carries a Zacks Rank #3 (Hold). Investors
looking for better-ranked stocks in the healthcare sector might
), which carries a Zacks Rank #2 (Buy).
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