BRIEF—Impax shareholders approve proposed merger with Amneal

Impax Laboratories announced that at its special meeting of stockholders, Impax stockholders overwhelmingly approved the previously announced business combination of Impax with privately-held Amneal Pharmaceuticals.

At the meeting, 51.8 million shares, or approximately 99% of votes cast, voted in favor of the business combination that was announced last year.

"We appreciate the strong support we have received from Impax shareholders for our transformational combination with Amneal," said Paul Bisaro, president and chief executive of Impax.

"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," he added.

Impax' shareholder approval satisfies one of the conditions to the closing of the transaction.

The closing of the transaction remains subject to certain regulatory approvals and satisfaction of customary closing conditions, and is expected to occur in the second quarter of this year.