HAYWARD, Calif.--(BUSINESS WIRE)--July 11, 2006--IMPAX
Laboratories, Inc. (OTC:IPXL) today announced that consistent with its
previously stated strategic intent and timeline, it has launched IMPAX
Pharmaceuticals as the Company's branded products division. IMPAX
Pharmaceuticals has deployed its specialty sales force of 66
representatives through a contract sales arrangement with a third
party. This organization is being managed by a dedicated IMPAX
management team experienced in the sales and marketing of branded
pharmaceutical products and will promote Carbatrol(R) (carbamazepine
extended release capsules), a product of Shire Plc, for the treatment
of epilepsy and trigeminal neuralgia. Carbatrol(R) had U.S. gross
sales of $77 million for the 12 months ended May 31, 2006, according
to Wolters Kluwer Health.
The potential target market for Carbatrol(R) is nearly 8,300
neurologists in the U.S. and overlaps with IMPAX's target market for
its own neurology focused products. IMPAX Laboratories has several
products at various stages of development including Vadova(TM)
(carbidopa and levodopa), which is under review by the U.S. Food and
Drug Administration. The establishment of this division is expected to
allow IMPAX to achieve synergies in overall sales and marketing costs.
Commenting on the launch, Larry Hsu, Ph.D., IMPAX's president,
stated, "We are very pleased to have achieved this milestone in the
continued development of IMPAX and to establish our company's name
within the neurology marketplace. The launch of this division is
consistent with our corporate growth and strategic objectives and
positions IMPAX well to capitalize on its established relationships to
benefit the introduction of its own future products."
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 markets 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.
"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, its Form 10-Q for each of the first
three quarters of 2005, its Form 10-K for 2005, and its Form 10-Q for
the first quarter of 2006, 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.
Carbatrol is a registered trademark of Shire LLC.
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
[email protected]
212-838-3777
Bruce Voss
[email protected]
310-691-7100
www.lhai.com
SOURCE: IMPAX Laboratories, Inc.