IMPAX Strengthens Brand Development Team

June 3, 2002

Marc Cantillon, M.D., Named Vice President, Clinical Development

June 3, 2002 -- IMPAX Laboratories, Inc. (Nasdaq NM: IPXL) today announced that Marc Cantillon, M.D., has been named to the newly created position of Vice President, Clinical Development effective May 28, 2002. He will report directly to Larry Hsu, Ph.D., President and Chief Operating Officer.

Dr. Cantillon is a physician executive double board certified by the Board of Neurology and Psychiatry, including Geriatrics, with 16 years of research experience in industry and academia. He comes most recently from Wyeth-Ayerst/American Home Products where, since 1999, he was Global Therapeutic Area Director, Neuroscience. While there, he was responsible for the scientific life cycle management of Central Nervous System (CNS) products globally, foremost of which was Effexor XR®, which grew from an annual $600 million to a $1.5 billion blockbuster, but also of Ativan®, Antabuse®, and the newly launched Sonata®. Prior to joining Wyeth-Ayerst, Dr. Cantillon was with Synthelabo Pharmaceuticals as Senior Medical Director until its merger with Sanofi. During his tenure at Synthelabo, he led the clinical development of three new programs for North America in Neurology and Psychiatry, the expansion of Ambien®, and developed a computerized tracking system for adverse events reporting and medical informatics.

Dr. Cantillon joined the industry at AstraZeneca Pharmaceuticals in the development of Seroquel® and oversaw its launch in 1997. He has led clinical trials from Phase I through Phase IV with regulatory negotiations and designed CNS drug trials for the elderly, children, and other special populations. In addition, Dr. Cantillon has been involved in the clinical trials, development and/or commercialization of other significant drugs such as Prozac®, Buspar®, Cognex®, Aricept®, and Eldepryl®.

"We are truly fortunate that Dr. Cantillon has agreed to join IMPAX," said Larry Hsu. "His drug development experience in the CNS area will be invaluable as we move forward in our branded product development and commercialization strategy. He is an international thought leader in the field with a prolific body of work, having 21 peer reviewed articles, 54 abstracts, two textbook chapters and 26 invited presentations and university grand rounds."

Commenting on his appointment, Dr. Cantillon stated, "IMPAX Laboratories is at an exciting stage of development and I am very pleased to be joining the company at this time. The impressive range of oral controlled-release capabilities that IMPAX possesses is compatible with a number of CNS drugs. I look forward to playing a part in bringing these important formulations to patients."

Dr. Cantillon received his medical degree from Karolinska Institute in Stockholm, Sweden and received specialist training in Medicine/Neurology at Albert Einstein, with residency in Psychiatry at Beth Israel/Mount Sinai Medical Center in New York. He did a research Fellowship in Neuropsychopharmacology at the National Institutes of Health and was then appointed a Staff Fellow there. He joined the teaching faculty at Georgetown University in Washington, DC and later, the University of Miami, Florida.

IMPAX Laboratories, Inc. is a technology focused 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: www.impaxlabs.com.