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Agreement Executed for Amneal Pharmaceuticals to Acquire the Assets of Interpharm Holdings
Date:4/24/2008

PATERSON, N.J., April 24 /PRNewswire/ -- Amneal Pharmaceuticals, LLC is pleased to announce the execution of an Asset Purchase Agreement for Amneal's wholly-owned subsidiary, Amneal Pharmaceuticals of New York, LLC, to acquire the assets, facilities and business of Interpharm. The acquisition includes Interpharm's facilities on Long Island, New York as well as the intellectual property including ANDA's, technology and processes.

Amneal will use its strong leadership and financial position to fully realize the potential of Interpharm's powerful product line, ensure approval of its well defined development pipeline and leverage the unique manufacturing capabilities.

"Utilizing Amneal's financial strength, superb quality management, R&D and manufacturing expertise with Interpharm's outstanding facilities, leading market share and high value pipeline creates tremendous opportunities for rapid growth and exceptional customer satisfaction," said Chintu Patel, CEO of Amneal.

"Interpharm is excited about this acquisition of our assets. The financial stability brought by Amneal will allow it to springboard its rapid growth plans, and enhance the value to our loyal trading partners," added Jeff Weiss, Interpharm's executive vice president of sales and marketing.

Amneal will list assets of over one hundred products approved or filed with the USFDA and in development, controlled substance (C II-V) licensing and manufacturing, hormonal production suite, high potency production suite, soft gelatin capsules manufacturing, liquids manufacturing plant, 20 billion unit oral solid capacity and expansive R&D centers in New Jersey, New York and newly opened in India. Amneal president Chirag Patel comments, "This acquisition of intellectual and tangible assets provides Amneal the ability to accelerate its aggressive growth plans and rapidly broaden and deepen its product portfolio, while staying committed to full vertical integration and industry leadin
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SOURCE Amneal Pharmaceuticals, LLC
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