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Impax buys generic drugs from Teva, Allergan for $586 million

Allergan ticker info and symbol are displayed on a screen on the floor of the New York Stock Exchange (NYSE) April 6, 2016.

Impax Laboratories Inc (IPXL.O) said it would buy a portfolio of generic drugs from Teva Pharmaceutical Industries Ltd (TEVA.TA) and Allergan Plc (AGN.N) for about $586 million.

The deal is part of the divestiture process mandated by the U.S. Federal Trade Commission in relation to Teva's acquisition of Allergan's generics business for $40.5 billion.

Impax, which raised its full-year adjusted earnings per share growth forecast, said the deal will add 15 marketed generics, one approved generic drug as well as a pipeline generic drug.

However, the company's shares fell 10 percent to...


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