HAYWARD, Calif. & BASINGSTOKE, England & PHILADELPHIA--(BUSINESS
WIRE)--Jan. 18, 2006--Impax Laboratories, Inc. (OTC:IPXL) and Shire
plc (LSE:SHP)(NASDAQ:SHPGY)(TSX:SHQ) announce that, as published today
on the Court's electronic docket, the U.S. District Court of the
District of Delaware has granted the parties' request to extend until
January 26, 2006 the deadline for the parties to submit the pre-trial
order. The Court also agreed to stay the matters of the case pending
settlement negotiations. The case is listed on the docket as Shire
Laboratories Inc. v. Impax Laboratories, Inc. and is a patent
infringement lawsuit involving Shire's U.S. patents Nos. 6,322,819 and
6,605,300, in connection with Impax's attempt to market a generic
version of Shire's ADDERALL XR prior to the expiration of those
patents.
About IMPAX Laboratories, Inc.
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: www.impaxlabs.com.
About Shire PLC
Shire's strategic goal is to become the leading specialty
pharmaceutical company that focuses on meeting the needs of the
specialist physician. Shire focuses its business on central nervous
system (CNS), gastrointestinal (GI), general products (GP) and human
genetic therapies (HGT) - all being areas in which Shire has a
commercial presence. The structure is sufficiently flexible to allow
Shire to target new therapeutic areas to the extent opportunities
arise through acquisitions. Shire believes that a carefully selected
portfolio of products with a strategically aligned and relatively
small-scale sales force will deliver strong results. Shire's focused
strategy is to develop and market products for specialty physicians.
This approach aims to deliver increased returns and lower risks.
Shire's in-licensing and merger and acquisition efforts are focused on
products in niche markets with strong intellectual property protection
either in the US or Europe.
For further information on Shire, please visit the Company's
website: www.shire.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 the delisting of IMPAX's stock, IMPAX's delay
in filing its 2004 Form 10-K and its Form 10-Q's for the first three
quarters of 2005, 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, 215-933-0360
Larry Hsu, Ph.D., 510-476-2000, Ext. 1111
Arthur Koch, 215-933-0351
www.impaxlabs.com
or
Investor Relations Contacts:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
Bruce Voss, 310-691-7100
bvoss@lhai.com
www.lhai.com
or
Shire plc
Investor Relations:
Brian Piper, +1 484 595 8252 (North America)
Clea Rosenfeld, +44 1256 894 160 (Rest of the World)
SOURCE: Impax Laboratories, Inc.