Impax Laboratories today announced that it has completed its acquisition of Tower Holdings, Inc. (including operating subsidiaries CorePharma LLC and Amedra Pharmaceuticals LLC), and Lineage Therapeutics Inc. In connection with the closing of the acquisition, Impax also announced that it is reshaping the operating and reporting structure of its two divisions – the Impax generic products division will now be known as “Impax Generics” and the Impax branded products division will now be known as “Impax Specialty Pharma”. In addition, Impax has launched a new corporate logo to better reflect the growth and future of the Company.
Logo – http://photos.prnewswire.com/prnh/20150310/180590LOGO “We are pleased to complete this acquisition, which is another important step forward in executing our plan to create value through strategic acquisitions that enhance our existing strategies,” said Fred Wilkinson, president and chief executive officer of Impax. “By joining together our collective capabilities, we accelerate Impax’s growth while also bolstering our operating foundation with a robust product pipeline and an expanded, more diversified manufacturing footprint.” “The acquisition significantly expands our commercialized generic portfolio to 47 products and the number of potential generic product launches in 2015 of up to 18 products, nine of which are already approved. Our branded commercialized portfolio also expands with the addition of four Amedra products. These branded products should benefit from promotional efforts utilizing our established sales and marketing organization.” The privately-held Companies acquired by Impax specialize in the development, manufacture and commercialization of complex generic and branded pharmaceutical products. This profitable and growing portfolio consists of four branded products, including the branded Albenza@ franchise, Adrenaclick@ and the related authorized generic, ten complementary commercialized generic products as well as other near-term generic opportunities.
“Since announcing the acquisition last October, we have worked closely alongside very committed and passionate individuals at the acquired Companies,” Wilkinson continued. “With the acquisition complete and the organization structure established, we will now begin the most substantial aspects of the integration and we look forward to realizing the many benefits we expect to create by this combination.”
