The story
Amneal Pharmaceuticals was founded in 2002 by brothers Chirag and Chintu Patel. The company manufactured its first prescription product in 2005 and received its first Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (FDA) in 2006.
In 2007, the company acquired five divested drugs from Mylan which Mylan was forced to sell as part of their acquisition of the generic's unit of Merck KGaA. At this time, the company was noted as being a private company based in Paterson, New Jersey.
That same year, it acquired Akyma Pharmaceuticals, a Glasgow, Kentucky-based regional distributor, and began marketing products under the Amneal label.
In 2008, Amneal expanded internationally with the opening of a research and development center in Gujarat, India. Continued expansion in the United States occurred between 2010 and 2016 in New Jersey, New York and Kentucky. As of 2017, the company had grown much of its physical footprint and product base through a series of acquisitions, including the acquisition of assets from Pfizer, Actavis and Warner Chilcott.
Formation of Amneal Pharmaceuticals Inc
In 2018, Amneal Pharmaceuticals LLC merged with Impax Laboratories, Inc. to form Amneal Pharmaceuticals, Inc. The FTC described the merger as having a value of US$1.45 billion, and required the companies to divest several marketed products and development projects as a condition of the approval. The merger was completed in May 2018, with shares of IPXL ceasing trading on NASDAQ on May 4 and shares of AMRX commencing trading on the NYSE on May 7. The company's predecessor entity, privately held Impax Pharmaceuticals, Inc., was founded in 1995. Publicly traded Global Pharmaceutical Corporation and Impax Pharmaceuticals, Inc. completed a reverse merger, forming Impax Laboratories, Inc. on December 14, 1999.
In August 2019, co-founders Chirag and Chintu Patel became co-CEOs of the company, while Paul Meister served as chairman. The Patel brothers focused on more investment into specialized drugs using the 505(b)(2) regulatory process, while continuing to expand the company's generic pipeline.
In December 2019, Amneal announced it had entered into an agreement to acquire a majority interest in AvKARE, a private label provider of generic pharmaceuticals in the US federal agency sector. Under the agreement, AvKARE would continue to operate as an independent subsidiary of Amneal.
In January 2021, the business announced it would acquire 98% of Kashiv BioSciences LLC and its drug delivery platforms.
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In November 2021, Amneal acquired Punishka Healthcare and expanded its capacity to manufacture injectable medicines in Punishka's 293,000 sq. foot manufacturing facility near Ahmedabad, India.
In January 2022, Amneal announced it would acquire Saol Therapeutics Baclofen franchise for around $83.5 million, plus future royalties.
List of mergers and acquisitions
The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
From Wikipedia’s article on Amneal Pharmaceuticals, shared under CC BY-SA 4.0.7