Impax Board of Directors Appoints G. Frederick Wilkinson President and CEO

April 21, 2014

HAYWARD, Calif., April 21, 2014 /PRNewswire/ -- Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that its Board of Directors has appointed G. Frederick Wilkinson as Impax's President and Chief Executive Officer effective April 29, 2014. Mr. Wilkinson, who previously served as President, Actavis Global Research and Development at Actavis plc succeeds Larry Hsu, Ph.D. who is retiring.

"A long-time industry leader, Fred's extensive experience in managing generic, brand, R&D, and regulatory and compliance activities, together with his track record in driving change, delivering growth, advancing pipeline products and driving innovation, make him the perfect candidate for this role," said Robert L. Burr, Chairman of Impax Laboratories, Inc. "I have every confidence that Fred's vision and passion will translate into remarkable success for Impax. The Board would like to thank Dr. Hsu for his incredible dedication and commitment over the last 18 years and for positioning the Company for its next phase of growth."

Mr. Wilkinson said, "I am grateful to Dr. Hsu and the Board for the privilege to lead the future direction of the Company and reinforce a quality-first culture. This is a great company, with a strong balance sheet, experienced business team and multiple product opportunities. I look forward to building on Impax's success." 

Mr. Wilkinson, 57, joined Watson Pharmaceuticals Inc. (now Actavis) as Executive Vice President, Global Brands in September 2009. Prior to joining Watson, he was President and Chief Operating Officer of Duramed Pharmaceuticals, Inc., the proprietary products subsidiary of Barr Pharmaceuticals Inc. from 2006 to 2009. Prior to joining Duramed Pharmaceuticals, Inc., he was President and Chief Executive Officer of Columbia Laboratories, Inc. from 2001 to 2006. From 1996 to 2001, Mr. Wilkinson was Senior Vice President and Chief Operating Officer of Watson. Prior to joining Watson, he spent 16 years at Sandoz in numerous senior management positions of increasing responsibility. Mr. Wilkinson received a M.B.A. from Capital University in 1984 and a B.S. in Pharmacy from Ohio Northern University in 1979.

Impax Laboratories will release its first quarter 2014 financial results after the close of the U.S. financial markets on May 1, 2014. Mr. Wilkinson will participate in the conference call with the investment community on May 1 at 4:30 p.m., Eastern Time.

Today's announcement concludes a transition process that began in 2013 when Dr. Hsu first announced his decision to retire. Dr. Hsu will continue to serve on the Impax Board.

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.