IMPAX to Develop Next-Generation Carbidopa/Levodopa Product

April 14, 2008

HAYWARD, Calif.--(BUSINESS WIRE)--April 14, 2008--IMPAX Laboratories, Inc. (OTC:IPXL) today announced that the Company has begun work to develop a next-generation carbidopa/levodopa product. The decision follows a meeting with the U.S. Food and Drug Administration (FDA) to address the Agency's previously disclosed concerns over product nomenclature and the potential for medication errors that might result from confusion of the Company's Vadova(R) tablets with other marketed forms of carbidopa/levodopa. Following an extensive analysis by the Company and discussion with the FDA, IMPAX has decided to cease work with the current formulation of the product.

Michael Nestor, president of IMPAX's Branded Products Division, commented, "Our R&D team, headed by Dr. Suneel Gupta, is at work on a next-generation carbidopa/levodopa product that will benefit from the regulatory experience and formulation experience we have gained through this process. In addition, we are prioritizing our other pipeline candidates. Our sales force has been establishing meaningful relationships in the marketplace since mid-2006, and we look to capitalize on those relationships with additional product offerings. We also are actively seeking in-licensing opportunities and other alliances to continue these valuable relationships. We remain fully committed to developing products that address critical patient needs in neurology and central nervous system indications."

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:

"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 and suspension of trading in IMPAX's stock, the SEC proceeding to determine whether to suspend or revoke the registration of IMPAX's securities under section 12 of the Securities Exchange Act, IMPAX's delay in filing its 2004 Form 10-K, its Form 10-Q for each of the first three quarters of 2005, 2006, and 2007, its Form 10-K for 2005, 2006 and 2007, the actual time that will be required to complete the filing of IMPAX's delinquent periodic reports, 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.
Larry Hsu, Ph.D., President & CEO
510-476-2000, x1111
Arthur A. Koch, Jr., Sr. VP & CFO
Investor Relations Contacts:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 212-838-3777
Bruce Voss, 310-691-7100

SOURCE: IMPAX Laboratories, Inc.