Impax Acquires Two Products from Actavis

July 2, 2014

HAYWARD, Calif., July 2, 2014 /PRNewswire/ -- Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that it has acquired from Actavis plc (NYSE: ACT) two generic products for cash consideration pursuant to a Purchase Agreement and a Supply Agreement. Financial terms of the agreement were not disclosed.

The acquisition includes one product marketed under an Abbreviated New Drug Application (ANDA) - Ursodiol tablet - and one approved ANDA that is not yet marketed - Lamotrigine orally disintegrating tablet (ODT).

"The acquisition of these products from Actavis is just one example of our ongoing strategy of expanding our product offerings and portfolio with strategic business development projects," said Fred Wilkinson, president and chief executive officer of Impax Laboratories, Inc. "Successful implementation of our M&A and business development activities should complement our internal development programs and provide further long term growth for the Company."

About Impax Laboratories, Inc.

Impax Laboratories, Inc. (Impax) 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 central nervous system disorder 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 develops marketing partnerships to fully leverage its technology platform and pursues partnership opportunities that offer alternative dosage form technologies, such as injectables, nasal sprays, inhalers, patches, creams and ointments. For more information, please visit the Company's Web site at:

Company Contact:                                                  
Mark Donohue
Investor Relations and Corporate Communications      
(215) 558-4526                                                 

SOURCE Impax Laboratories, Inc.