Impax Laboratories, Inc. announced that at its special meeting of stockholders held today, Impax stockholders overwhelmingly approved the previously announced business combination of Impax with Amneal Pharmaceuticals LLC.
BRIDGEWATER, N.J., March 27, 2018 /PRNewswire/ -- Impax Laboratories, Inc. (NASDAQ: IPXL), today announced that at its special meeting of stockholders held today, Impax stockholders overwhelmingly approved the previously announced business combination of Impax with Amneal Pharmaceuticals LLC. At the meeting, 51.8 million shares, or approximately 99% of votes cast, voted in favor of the business combination.
“We appreciate the strong support we have received from Impax shareholders for our transformational combination with Amneal,” said Paul Bisaro, President and Chief Executive Officer of Impax. “Today’s approval represents an important milestone in the process to combine our two organizations and create a diversified pharmaceutical company with stronger capabilities and greater resources. We look forward to continuing to work closely with Amneal to complete the transaction so we can provide greater access to safe and affordable medicine for patients, open up new opportunities for our employees and deliver enhanced value for shareholders.”
Impax’s shareholder approval satisfies one of the conditions to the closing of the transaction. The closing of the transaction remains subject to certain regulatory approvals and satisfaction of customary closing conditions, and is expected to occur in the second quarter of this year.
About Amneal
Amneal Pharmaceuticals LLC, a privately-held company headquartered in Bridgewater, New Jersey, is one of the largest and fastest growing generic pharmaceutical manufacturers in the United States. Founded in 2002, Amneal now has more than 5,000 employees in its operations in North America, Asia, and Europe, working together to bring high-quality, affordable medicines to patients worldwide. Amneal has significantly expanded its portfolio of generic products to include complex dosage forms in a broad range of therapeutic areas. For more information, visit www.amneal.com.
About Impax
Impax Laboratories, Inc. is a specialty pharmaceutical company applying its formulation expertise and drug delivery technology to the development of controlled-release and specialty generics in addition to the development of central nervous system disorder branded products. Impax markets its generic products through its Impax Generics division and markets its branded products through the Impax Specialty Pharma division. Additionally, where strategically appropriate, Impax develops marketing partnerships to fully leverage its technology platform and pursues partnership opportunities that offer alternative dosage form technologies, such as injectables, nasal sprays, inhalers, patches, creams, and ointments. For more information, please visit Impax’s web site at: www.impaxlabs.com.
