Replies to post #214341 on Biotech Values

[jbog]

I bought Impax for all the wrong reasons early this year. I thought they were going to flourish because of their substitute Epi-Pen which never really got off the ground when Mylan came out with their own generic.

What I did learn from Impax was that being a smaller generic you could win market share from the big boys (Teva, Mylan) by keeping your costs low.

Now they want to be big.

[DewDiligence]

IPXL-Amneal reverse merger now official:

https://finance.yahoo.com/news/amneal-impax-combine-113000999.html

Amneal Pharmaceuticals LLC and Impax Laboratories, Inc. (IPXL) today announced that they have entered into a definitive business combination in an all-stock transaction. As a result of the transaction, Amneal Holdings members will own approximately 75% and Impax shareholders will own approximately 25% of the new company's pro forma shares on an as converted basis.

The combined company, to be named Amneal Pharmaceuticals, Inc., will have a robust generics business that will rank as the 5th largest in the United States by gross revenue and a growing, high-margin specialty franchise.

… In connection with the transaction, Amneal Holdings members have entered into definitive purchase agreements with select institutional investors including TPG and funds affiliated with Fidelity Management & Research Company to sell 46.8 million unregistered common shares at $18.25 per share in a private placement for gross proceeds of $855 million, or approximately 15% of fully diluted common shares outstanding on an as converted basis.