Impax Laboratories has signed definitive agreements with Teva Pharmaceutical and affiliates of Allergan for the acquisition of a broad portfolio of generic products across solid oral, inhalable, injectable and topical dosage forms for $586 million. The deal also includes the return to Impax of its rights to its pending abbreviated new drug application (ANDA) for the generic equivalent to Concerta (methylphenidate hydrochloride).

Impax is expected to add a portfolio of 15 currently marketed generic products; one approved generic product and two approved strengths of a currently marketed product, which have not yet launched; one pipeline generic product and one pipeline strength of a currently marketed product, which are pending FDA approval; the full commercial rights to Impax’s pending ANDA for the generic equivalent to Concerta, a product previously partnered with Teva; and one generic product under development.

“The anticipated acquisition of these currently marketed and pipeline products fits with our strategic priorities of maximizing our generic platform, optimizing R&D and accelerating business development to create long term growth,” said Fred Wilkinson, president and chief executive officer, Impax. “Through this transaction, we will be expanding our portfolio of difficult-to-manufacture or limited-competition products and maximizing utilization of our existing manufacturing facilities in Hayward, California and Taiwan. The acquisition of full commercial rights to generic Concerta provides an additional opportunity to add another valuable near term launch and accentuates the strength of our internal R&D program.”

The acquired marketed generic products generated approximately $150 million in net sales and approximately $100 million in gross profit in 2015. According to IMS Health (NSP), the pending and development pipeline programs are estimated to have U.S. brand and generic sales of approximately $3.1 billion for the 12 months ending in March 2016.