Amneal Pharmaceuticals LLC and Impax Laboratories, Inc. announced today that they have completed their business combination to form Amneal Pharmaceuticals, Inc. (“Amneal”). According to the press release, with the completion of this business combination, Amneal is now the 5th largest generics business in the United States.
Amneal also states that, concurrent with the closing of this business combination, Amneal entered into a licensing agreement with mAbxience S.L. for its biosimilar candidate for Avastin® (bevacizumab). Amneal provided additional details in an associated presentation today, indicating that Amneal will be mAbxience’s exclusive supplier of the bevacizumab product in the U.S. market and will pay up-front, development and regulatory milestone payments to mAbxience as well as one-time commercial milestone payments on reaching pre-agreed sales targets in the market. This is the third biosimilar product licensed by Amneal, following filgrastim and pegfilgrastim biosimilar candidates through a partnership with Adello Biologics.