IMPAX Added to NASDAQ Biotech Index Effective November 24, 2003

November 18, 2003

HAYWARD, Calif., Nov 18, 2003 (BUSINESS WIRE) -- IMPAX Laboratories, Inc. (NASDAQ: IPXL) today announced that it was selected for addition to the NASDAQ Biotechnology Index(R) (NASDAQ: NBI) effective November 24, 2003. All securities in the Index are listed on the NASDAQ National Market and meet minimum requirements for price, market value, average daily share volume and "seasoning" as a public company.

"We are delighted to be included in this index, and appreciate NASDAQ's validation and recognition of our growth," said Barry R. Edwards, Co-Chief Executive Officer.

Launched in 1993, the NASDAQ Biotechnology Index includes companies that are classified according to the FTSE(TM) Global Classification System as either biotechnology or pharmaceutical companies. The Index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares NASDAQ Biotechnology Index Fund(SM) (IBB). For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit

IMPAX has 18 applications pending at the FDA, including three tentatively approved that address approximately $7 billion in U.S. branded product sales for the 12 months ended August 31, 2003. Fourteen of these filings were made under Paragraph IV of the Hatch-Waxman Amendments.

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 specialty 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. Additionally, where strategically appropriate, IMPAX has developed marketing partnerships to fully leverage its technology platform. 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:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

To the extent any statements made in this news release contain information that is not historical, these statements are forward-looking in nature and express the beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause IMPAX's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, IMPAX's ability to obtain sufficient capital to fund its operations, the difficulty of predicting FDA filings and approvals, consumer acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, IMPAX's ability to successfully develop and commercialize pharmaceutical products, IMPAX's reliance on key strategic alliances, the uncertainty of patent litigation, the availability of raw materials, the regulatory environment, dependence on patent and other protection for innovative products, exposure to product liability claims, fluctuations in operating results and other risks detailed from time to time in IMPAX's filings with the Securities and Exchange Commission. Forward-looking statements speak only as to the date on which they are made, and IMPAX undertakes no obligation to update publicly or revise any forward-looking statement, regardless of whether new information becomes available, future developments occur or otherwise.

SOURCE: IMPAX Laboratories, Inc.

IMPAX Laboratories, Inc.
Barry R. Edwards, 215-289-2220, Ext. 1771
Larry Hsu, Ph.D., 510-476-2000, Ext. 1111
Cornel C. Spiegler, 215-289-2220, Ext. 1706
Investor Relations Contacts:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 212-838-3777
Bruce Voss, 310-691-7100
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