IMPAX Announces OTC Alliance with Wyeth

June 20, 2002
Agreement Covers Loratadine/Pseudoephedrine Sulfate Products for the OTC Market

June 20, 2002 -- IMPAX Laboratories, Inc. (Nasdaq NM: IPXL) today announced the signing of a semi-exclusive Development, License and Supply Agreement with Wyeth acting through its Wyeth Consumer Healthcare Division relating to IMPAX's generic versions of Claritin-D® 12-Hour (Loratadine/Pseudoephedrine Sulfate, 5 mg/ 120 mg) and Claritin-D® 24-Hour (Loratadine/Pseudoephedrine Sulfate, 10 mg/ 240 mg) Extended Release Tablets for the over-the-counter (OTC) market. Claritin-D® 12-Hour and 24-Hour are currently marketed by Schering-Plough as prescription drugs for the relief of symptoms of seasonal allergic rhinitis (hay fever). According to IMS Health, U.S. sales for both products were approximately $925 million for the twelve months ended March 31, 2002.

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

"We are very excited to be working with Wyeth on these products," said Barry R. Edwards, Co-Chief Executive Officer of IMPAX Laboratories. "They have built a solid reputation as a strong marketer and we are pleased to have them as a partner for the OTC marketing of these products."

Both of the Company's Abbreviated New Drug Applications (ANDAs) for Loratadine/Pseudoephedrine Sulfate Extended Release Tablets have previously been granted tentative approval by the U.S. Food and Drug Administration (FDA).

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: