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Impax Laboratories to sell Taiwanese manufacturing facility

Impax Laboratories Inc. said it will sell its manufacturing facility in Taiwan to Bora Pharmaceuticals Co. Ltd. in a deal valued at $18.5 million.

Impax will record a pretax impairment charge of about $70 million to $80 million on the sale of the facility in its fourth-quarter 2017 earnings.

Bora will continue to supply Impax with certain marketed and development products from the Taiwanese facility. Bora will also have the right to market and sell Impax's Parkinson's drug Rytary, approved as Numient outside the U.S., in Taiwan.

The transaction is expected to close in the first quarter of 2018, subject to customary closing conditions.