Combined Amneal adds bevacizumab and Gemini
Amneal has struck a licensing deal with Mabxience for exclusive US rights to biosimilar Avastin (bevacizumab) and has acquired branded player and hybrid 505(b)(2) specialist Gemini Laboratories for US$117 million, at the same time as announcing the completion of its merger with Impax, creating the “fifth-largest US generics player”.
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Amneal’s new management team is open to negotiating a major transaction, even as it looks to restore organic growth through a greater focus on differentiated generic and hybrid products.
Chirag Patel and Chintu Patel have returned to being co-CEOs of Amneal, just over a year after the firm completed its merger with Impax. Rob Stewart – who was president and CEO of Amneal – and executive chairman Paul Bisaro have resigned from the roles.
With integration of the merger between Amneal and Impax largely completed, the US-focused group is on the look-out for deals to boost its generic injectables portfolio.