IMPAX Resolves Remaining SEC Comments on Form 10 Registration Statement

January 27, 2009

- FINRA Approves Market-Making Activities in the Company's Stock -

HAYWARD, Calif.--(BUSINESS WIRE)--Jan. 27, 2009--IMPAX Laboratories, Inc. (OTC:IPXL.PK) today announced that all comments from the U.S. Securities and Exchange Commission's review of the Company's Form 10 Registration Statement have been resolved. Additionally, the Financial Industry Regulatory Authority (FINRA) has approved the application of several market makers to resume quotations of the Company's common stock (symbol IPXL.PK) on the Pink Sheets.

Larry Hsu, Ph.D., president and chief executive officer of IMPAX Laboratories, said: "We are pleased to have completed the process of re-registering our shares and that market-making activities in the stock have resumed. We expect shortly to submit an application for relisting of our shares on The NASDAQ Stock Market."

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, 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.
Mark Donohue, Sr. Director, Investor Relations
(215) 933-3526

Source: IMPAX Laboratories, Inc.