Teva Sells Off 15 Generic Drugs to Impax for $586M

Teva Pharmaceutical is selling off 15 of its generic drugs to Impax Laboratories in a deal worth $586 million.

The deal announced last week also grants Impax full commercial rights to the pending ANDA for a generic of Janssen’s Concerta — a product for which Impax previously partnered with Teva — as well as an approved generic product that has not yet launched and a pipeline generic drug.

Neither company disclosed the other generic drugs that will be changing hands when the transaction concludes on June 30. An Impax spokesman explained that the terms of the agreement prohibit them from disclosing the other drugs.