Impax Laboratories Inc(NASDAQ:IPXL) revenues lost 8% yoy during the fourth quarter of 2017. Given this weak top line the stock lost over 2.5% on March 1st, 2018 (as of 1:15PM EST; Source: Google finance). On the other hand, the Specialty franchise reported a 18% rise in revenue against pcp but this rise was more than offset by decline in generic revenue due to buyer consolidation and further competition on certain products.
However, the solid sales from specialty products, including RYTARY and ALBENZA partially offset a decline in generic sales on the back of lower sales of epinephrine auto-injector as a result of seasonality and lower sales of diclofenac sodium gel. Meanwhile, the 2017 total revenues fell 6% wherein generic revenues lost 9%, partially offset by 4% increase in Specialty Pharma revenues. The group forecasts new company to have debt of over $2.7 billion at close.
Meanwhile, Amneal showed good performance launching 35 products, while 36 ANDAs got approved and nine tentatively approved. On the R&D front, the group continued to be very active, filing 48 ANDAs in 2017. They launched some very important generic products, including triamcinolone injection, which is a first generic. The group also launched generic Aggrenox and mometasone nasal spray. Amneal’s biosimilar partner reported a milestone by filing Neupogen, which would be Amneal’s first biosimilar. The group forecasts to file their second application, Neulasta, with the FDA this year.
The group launched nine products and had seven ANDAs approved while filed five new ANDAs. RYTARY, the group’s flagship Parkinson’s product, witnessed a rise in revenue of 25% over 2016. Impax or IPX203, the group’s new Parkinson’s product, is Phase III ready following a Phase IIb study. They forecast to start that study post the close of the Amneal transaction. The group also got a favorable district court decision on their ZOMIG Nasal Spray product and currently intends to maintain patent protection for that product until mid-2021 when the patents expire.