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Thursday, October 9, 2014

Impax buys two private drugmakers for $700 mln, (NASDAQ: IPXL)

Impax Laboratories Inc said it bought two privately held drugmakers for $700 million to gain access to seven generic drugs. Impax said the deal, which is expected to add 90 cents per share to 2015 earnings, includes a drug to treat parasitic worm infections, Albenza.

Impax Laboratories Inc. is a specialty pharmaceutical company. Shares of IPXL traded higher by 0.38% or $0.09/share to $23.84. In the past year, the shares have traded as low as $19.39 and as high as $31.04. On average, 653172 shares of IPXL exchange hands on a given day and today's volume is recorded at 448442.