Healthcare Industry News: Impax Laboratories
News Release - July 11, 2006
IMPAX Announces the Launch of IMPAX PharmaceuticalsCompany's Branded Products Division
HAYWARD, Calif.--(HSMN NewsFeed)--July 11, 2006--Impax Laboratories, Inc. (OTC:IPXL ) today announced that consistent with its previously stated strategic intent and timeline, it has launched IMPAX Pharmaceuticals as the Company's branded products division. IMPAX Pharmaceuticals has deployed its specialty sales force of 66 representatives through a contract sales arrangement with a third party. This organization is being managed by a dedicated IMPAX management team experienced in the sales and marketing of branded pharmaceutical products and will promote Carbatrol® (carbamazepine extended release capsules), a product of Shire Plc, for the treatment of epilepsy and trigeminal neuralgia. Carbatrol® had U.S. gross sales of $77 million for the 12 months ended May 31, 2006, according to Wolters Kluwer Health.
The potential target market for Carbatrol® is nearly 8,300 neurologists in the U.S. and overlaps with IMPAX's target market for its own neurology focused products. Impax Laboratories has several products at various stages of development including Vadova(TM) (carbidopa and levodopa), which is under review by the U.S. Food and Drug Administration. The establishment of this division is expected to allow IMPAX to achieve synergies in overall sales and marketing costs.
Commenting on the launch, Larry Hsu, Ph.D., IMPAX's president, stated, "We are very pleased to have achieved this milestone in the continued development of IMPAX and to establish our company's name within the neurology marketplace. The launch of this division is consistent with our corporate growth and strategic objectives and positions IMPAX well to capitalize on its established relationships to benefit the introduction of its own future products."
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, possible adverse effects resulting from the delisting of IMPAX's stock, IMPAX's delay in filing its 2004 Form 10-K, its Form 10-Q for each of the first three quarters of 2005, its Form 10-K for 2005, and its Form 10-Q for the first quarter of 2006, 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.
Carbatrol is a registered trademark of Shire LLC.
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