NEW YORK — Amneal Pharmaceuticals LLC and Impax Laboratories Inc. plan to merge in an all-stock transaction.

An Amneal-Impax merger would create the fifth-largest generics supplier by gross revenue in the United States. To be named Amneal Pharmaceuticals Inc., the new entity will also possess a growing, high-margin specialty drug franchise. Financial terms of the deal weren’t disclosed.

Chintu and Chirag Patel, Amneal

In addition to its broad commercial product portfolio, the combined organization will have a diverse and differentiated pipeline with more than 300 products either filed with the Food and Drug Administration or in active stages of development; a foundation for international expansion with selected commercial presence in the United Kingdom and Germany; and cost-efficient global manufacturing and development capabilities in all dosage forms.

“In the 15 years since our family founded Amneal, we have established the company as a leader in the U.S. generic pharmaceuticals industry, and today marks an important milestone in these efforts,” Chirag Patel, co-chief executive officer and co-chairman of the privately held Amneal, said in a statement. “This transaction combines the complementary strengths of both Amneal and Impax to create an even stronger company with the diversification, capabilities and resources to deliver enhanced value for patients, new opportunities for our collective employees, and increased growth and value creation for shareholders.”

Chintu Patel, who shares the two top leadership roles at Bridgewater, N.J.-based Amneal, stated, “We are excited to join with Impax to create one of the most dynamic companies in the pharmaceutical industry. This combination will help us achieve our long-term goals of providing greater access to safe and affordable medicine for people around the world, while also positioning us for continued success.”

With the Amneal-Impax merger transaction, Amneal Holdings members will own about 75% of the combined company’s pro forma shares on an as converted basis, and Impax shareholders will own approximately 25%.

Paul Bisaro, Impax

“This combination delivers on several key stated growth objectives for Impax. By combining Amneal and Impax, we create a more diversified company with one of the industry’s leading high-value generic product pipelines and a growing specialty business. Our combined portfolio will be supported by global, high-quality development and manufacturing capabilities,” commented Paul Bisaro, president and CEO of Impax.

“This transaction is financially compelling, as we expect the combination to be accretive to Impax’s stand-alone adjusted per-share earnings in the first 12 months and generate double-digit growth in revenue and adjusted EPS over the three years following the close of the transaction. We expect to achieve annual cost synergies of approximately $200 million within three years,” Bisaro continued. “The anticipated strong cash flows from the combined company allow for the repayment of debt and the ability to meaningfully invest in our business.”

Plans call for Amneal’s Chirag Patel and Chintu Patel to serve as co-chairmen of the combined company’s board of directors, with Bisaro becoming CEO. Bryan Reasons, senior vice president of finance and chief financial officer of Impax, is slated to serve as CFO of the merged entity, which will be based in Bridgewater.

Amneal and Impax said they expect the transaction to close in the first half of 2018, pending regulatory approvals, customary closing conditions and Impax shareholder approval. Amneal has received approval from its members for the transaction.