Profile: Impax Laboratories, Inc. (IPXL.O)

Impax Laboratories, Inc., incorporated in 1995, is a technology-based, specialty pharmaceutical company. The Company is focused on the development and commercialization of bioequivalent and brand-name pharmaceuticals, utilizing its controlled-release and other in-house development and formulation expertise. In the generic pharmaceuticals market, the Company focuses its efforts on controlled-release generic versions of selected brand-name pharmaceuticals covering a range of therapeutic areas. In the brand-name pharmaceuticals market, Impax is developing products for the treatment of central nervous system (CNS), disorders. Its brand-name product portfolio consists of development-stage projects to which it is applying its formulation and development expertise to develop differentiated, modified, or controlled-release versions of marketed drug substances. The Company operates in two segments: Global Pharmaceuticals Division (Global Division) and the Impax Pharmaceutical Division (Impax Division).

The Company markets generic pharmaceutical prescription and over-the-counter (OTC) products through its Global Division and plans to market its branded pharmaceutical products through its Impax Division. As of March 10, 2009, it marketed 70 generic pharmaceuticals representing dosage variations of 24 different pharmaceutical compounds through its Global Pharmaceuticals division and another 16 products representing dosage variations of four different pharmaceutical compounds through its alliance agreements’ partners. Impax has one branded pharmaceutical product, for which it has completed a Phase III clinical study, a second product in Phase II and four other programs in the early exploratory phase.

Global Pharmaceuticals Division

The Global Division develops, manufactures, sells, and distributes generic pharmaceutical products through three sales channels: the Global Products sales channel, for generic pharmaceutical prescription (Rx) products, directly to wholesalers, large retail drug chains, and others; the RX Partner sales channel, for generic prescription products sold through unrelated third-party pharmaceutical entities pursuant to alliance agreements, and the OTC Partner sales channel, for sales of generic pharmaceutical OTC products sold through unrelated third-party pharmaceutical entities pursuant to alliance agreements.

Impax Pharmaceutical Division

The Impax Division is engaged in the development of proprietary brand pharmaceutical products through improvements to already approved pharmaceutical products to address CNS disorders. The Impax Division is also engaged in the co-promotion of products developed by unrelated third-party pharmaceutical entities through a direct sales force focused on marketing to physicians, primarily in the CNS community.

The Company competes with Sandoz, Inc., Mylan, Inc., Ranbaxy Laboratories Limited, Teva Pharmaceutical Industries, Ltd., Watson Pharmaceuticals, Inc and Actavis Inc.