- 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: 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, 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
www.impaxlabs.com
Source: IMPAX Laboratories, Inc.