HAYWARD, Calif.--(BUSINESS WIRE)--April 1, 2005--IMPAX
Laboratories, Inc. (NASDAQ:IPXL) today announced the appointment of
Arthur A. Koch, Jr. as Senior Vice President, Finance, and Chief
Financial Officer, effective immediately, reporting to the Chief
Executive Officer. This completes the transition following the
previously announced retirement of the former CFO, Mr. Cornel
Spiegler, who will become a consultant to the company to assist with a
smooth transition.
"Art has 30 years of finance, operations and public accounting
experience, including service as Chief Financial Officer of three
publicly traded healthcare companies. We are fortunate to add such an
accomplished and well-rounded executive to our management team," said
Barry R. Edwards, Chief Executive Officer of IMPAX. "His financial and
capital markets expertise should prove valuable to our growing
company."
For the past seven years of his career, Mr. Koch has been with
Strategic Diagnostics Inc. (NASDAQ:SDIX), a company that develops,
manufactures and markets immunoassay-based diagnostic test kits,
including six years as Chief Operating Officer, five months as interim
Chief Executive Officer and five years as Chief Financial Officer and
Vice President. At Strategic Diagnostics, his most recent
responsibilities included responsibility for all P&L activities and
leadership of the research, manufacturing and financial functions. He
also was involved in several acquisitions and developed the company's
investor relations campaign.
Mr. Koch has held further CFO positions at Paracelsian Inc., IBAH
Inc., Liberty Fish Company and Premier Solutions Ltd. In addition, he
has served as a corporate finance and operations consultant for
numerous private companies, and spent the first eight years of his
career at KPMG LLP, rising to the rank of senior manager. Mr. Koch
holds a Bachelor of Business Administration from Temple University and
has been a Certified Public Accountant since 1977.
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, Calif., 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.
"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, possible adverse
effects resulting from IMPAX's delay in filing its 2004 Form 10-K
including possible delisting from the NASDAQ National Market, 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.
CONTACT: IMPAX Laboratories, Inc.
Barry R. Edwards, 215-933-0323 Ext. 4360
or
Larry Hsu, 510-476-2000 Ext. 1111
www.impaxlabs.com
or
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 212-838-3777 (Investor Relations)
kgolodetz@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com
www.lhai.com
SOURCE: IMPAX Laboratories, Inc.