Amneal enters deal to acquire Interpharm

Amneal Pharmaceuticals has entered an agreement to acquire the assets, facilities and business of fellow USA-based generic drugmaker Interpharm, including its facilities on Long Island, New York, as well as intellectual property such as Abbreviated New Drug Applications, technology and processes.

Amneal says it 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. Financial details were not disclosed.

"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, chief executive of Amneal.