HAYWARD, Calif., Apr 08, 2010 (BUSINESS WIRE) --Impax Laboratories, Inc.(NASDAQ: IPXL) today announced
that Allen Chao, Ph.D., has been elected to the Company's board of
directors. Dr. Chao is currently Chairman of Newport Healthcare
Advisors, LLC, a healthcare investment management and consulting
company. Dr. Chao was elected to fill the vacancy to be left by board
member Oh Kim Sun, a director since 1999, who has decided not to stand
for re-election at the annual stockholders meeting. Dr. Chao and the six
other members of the board will stand for election at the Company's
annual stockholders meeting on May 25, 2010.
Robert L. Burr, chairman of the board of Impax Laboratories, said: "We
are delighted that Dr. Chao will be joining the board. He brings a
profound understanding of financial investment, business development,
strategic planning and operational management in our industry and
can provide invaluable practical guidance, insight and perspective with
respect to our operations, strategy, and corporate governance."
Dr. Chao was a co-founder of Watson Pharmaceuticals, Inc., a specialty
pharmaceutical company, serving as a director from 1985 to May 2008,
Chairman of the board of directors from May 1996 to May 2008, and Chief
Executive Officer from 1985 to September 2007. While at Watson, Dr. Chao
oversaw the company's growth, through internal R&D, licensing and
acquisitions of pharmaceutical products and technologies, as well as
mergers and acquisition activities.
Dr. Chao received a Ph.D. in industrial and physical pharmacy from
Purdue University in 1973. In May of 2000, he received the degree of
Doctor of Science from Purdue in recognition of his leadership and
vision for the production and marketing of pharmaceutical products.
Mr. Burr continued: "On behalf of the other members of the board, I
would like to thank Oh Kim Sun for his more than 10 years of service on
the board. His knowledge and leadership were instrumental in helping to
guide the organization through challenging and growth periods. He will
surely be missed."
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.
SOURCE: Impax Laboratories, Inc.
Company Contact:
Impax Laboratories, Inc.
Mark Donohue
Sr. Director, Investor Relations and Corporate Communications
(215) 933-3526
www.impaxlabs.com