Amneal Pharmaceuticals, LLC has announced the execution of an Asset Purchase Agreement for Amneal's wholly-owned subsidiary, Amneal Pharmaceuticals of New York, LLC, to acquire the assets, facilities and business of Interpharm. The acquisition includes Interpharm's facilities on Long Island, New York as well as the intellectual property including ANDA's, technology and processes.
Amneal will use its strong leadership and financial position to fully realize the potential of Interpharm's powerful product line, ensure approval of its well defined development pipeline and leverage the unique manufacturing capabilities.
"Utilizing Amneal's financial strength, superb quality management, R&D and manufacturing expertise with Interpharm's outstanding facilities, leading market share and high value pipeline creates tremendous opportunities for rapid growth and exceptional customer satisfaction," said Chintu Patel, CEO of Amneal.
"Interpharm is excited about this acquisition of our assets. The financial stability brought by Amneal will allow it to springboard its rapid growth plans, and enhance the value to our loyal trading partners," added Jeff Weiss, Interpharm's executive vice president of sales and marketing.