Impax shareholders green-light Amneal merger
Impax Labs has cleared a hurdle in its pending acquisition by Amneal Pharmaceuticals. The Bridgewater, N.J.-based company’s shareholders have overwhelmingly approved the combination, with 99% of votes cast in favor of the all-stock transaction.
“We appreciate the strong support we have received from Impax shareholders for our transformational combination with Amneal,” Impax president and CEO Paul Bisaro said. “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 shareholders will own 25% of the combined company, which will be helmed by Allergan veteran Robert Stewart. Bisaro will be the company’s executive chairman, while Amneal’s Chirag and Chintu Patel will be its co-chairman. Ahead of the merger’s completion, Amneal also has brought Andrew Boyer, former head of Teva’s North American generics operations, onboard as executive vice president of commercial operations.
Impax said that it expects the deal to close in the second quarter of this year, pending regulatory approval and satisfaction of customary closing conditions.
Hy-Vee brings Rx-free naloxone to Minnesota stores
Hy-Vee is teaming up with the to bring prescription-free naloxone to its stores in the Land of 10,000 Lakes. The health department provided the physician-signed protocol that allows a designated pharmacy or pharmacy chain’s pharmacist to dispense the opioid overdose reversal drug to patients without needing a prescription.
“We are very pleased that the Minnesota Department of Health has this opportunity to work with Hy-Vee to expand access in Minnesota to naloxone, a life-saving drug,” the department’s medical director Ruth Lynfield said.
Hy-Vee will offer naloxone in both injectable and nasal spray forms, the West Des Moines, Ia.-based company said. It added that when dispensing the drug, pharmacists will coach patients and family members on how to recognize signs of an opioid overdose and how to administer the medication.
“We know the availability of this medication has the potential to save lives,” Hy-Vee senior vice president and chief health officer Kristin Williams said. “It’s vital to do everything we can to assist a loved one who may encounter an opioid overdose by combining medications or by accidentally taking too much of a medication, being unaware of the life-threatening results.”
FDA approves Glenmark’s Clobex Spray generic
Glenmark Pharmaceuticals has received Food and Drug Administration approval for its generic Clobex Spray (clobetasol propionate spray, 0.05%). The drug is a corticosteroid indicated to treat moderate-to-severe plaque psoriasis in patients 18 years old and older.
Glenmark said that it will manufacture its Clobex Spray generic at its Baddi plant in India. The drug’s market saw sales of roughly $30.5 million for the 12 months ended January 2018, based on IQVIA sales data.