IMPAX Announces Agreement with Schering-Plough to Supply CLARITIN-D 12 Hour for OTC Market

June 24, 2002

June 24, 2002 -- IMPAX Laboratories, Inc. (Nasdaq NM: IPXL) today announced the signing of a Licensing, Contract Manufacturing and Supply Agreement with Schering-Plough Corporation relating to CLARITIN-D® 12 Hour (loratadine/pseudoephedrine sulfate, 5 mg/ 120 mg) Extended Release Tablets for the over-the-counter (OTC) market. CLARITIN-D 12 Hour is currently manufactured and marketed in the United States by Schering-Plough as a prescription drug for the relief of symptoms of seasonal allergic rhinitis (hay fever).

Schering-Plough said in a March 8, 2002 press release that it has filed with the U.S. Food and Drug Administration (FDA) to switch all CLARITIN formulations from prescription to OTC marketing status.

"We are pleased to be working with Schering-Plough on this important product," said Barry R. Edwards, Co-Chief Executive Officer of IMPAX Laboratories. "They have built a strong franchise in CLARITIN and we are excited they chose us to assist as a manufacturing source to meet the demands for CLARITIN-D 12 Hour for the OTC market." Edwards continued, "We believe this agreement complements our two previously announced OTC marketing alliances for loratadine products and adds a whole new dimension to our OTC strategy."

This agreement does not resolve the ongoing patent litigation between Schering-Plough and IMPAX to decide whether the Company may market its generic CLARITIN-D 12 Hour product or manufacture such a product for companies other than Schering-Plough prior to the expiration of a Schering-Plough patent in 2004.

IMPAX currently has 15 Abbreviated New Drug Application (ANDA) filings pending at the FDA that address more than $8.7 billion in U.S. branded product sales during 2001. Nine of these filings were made under Paragraph IV of the Hatch-Waxman Amendments, three of which have received tentative approval from FDA.

IMPAX Laboratories, Inc. is a technology based specialty pharmaceutical company applying its formulation expertise and drug delivery technology to the development of controlled-release and niche generics in addition to the development of branded products. IMPAX markets its generic products through its Global Pharmaceuticals division and intends to market its branded products through the IMPAX Pharmaceuticals division. IMPAX Laboratories is headquartered in Hayward, California, and has a full range of capabilities in its Hayward and Philadelphia facilities. For more information, please visit the Company's Web site at: