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Exclusive - Impax Laboratories taps Morgan Stanley for strategic review - sources
March 7, 2017 / 6:11 PM / 7 months ago

Exclusive - Impax Laboratories taps Morgan Stanley for strategic review - sources

(Reuters) - Generic drugmaker Impax Laboratories Inc (IPXL.O) has asked investment bank Morgan Stanley (MS.N) to help it conduct a strategic review, as it tries to cope with a tougher drug pricing environment, people familiar with the matter said.

The review will consider multiple options available to Impax, including the possibility of it participating in the industry’s consolidation wave through an acquisition or a sale of the company, the people said on Tuesday.

No decision to pursue a course of action will be made, however, until Impax appoints a new chief executive officer, after Fred Wilkinson abruptly stepped down from the post in December, the people said. The new CEO’s appointment is expected to be announced as early as April, the people added.

The sources asked not to be identified because the deliberations are confidential. Impax and Morgan Stanley did not immediately respond to requests for comment.

Reporting by Carl O'Donnell and Greg Roumeliotis in New York; Editing by Phil Berlowitz

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