Impax Laboratories, Inc. Continues to Ignore FDA Warnings, Causing a Delay in Bringing a New Drug to Market; Robbins Arroyo LLP

Impax Laboratories, Inc. Continues to Ignore FDA Warnings, Causing a Delay in
 Bringing a New Drug to Market; Robbins Arroyo LLP Investigates on Behalf of
                              Impax Shareholders

PR Newswire

SAN DIEGO and HUNTERSVILLE, N.C., March 14, 2013

SAN DIEGO and HUNTERSVILLE, N.C., March 14, 2013 /PRNewswire/ --Shareholder
rights firm Robbins Arroyo LLP is investigating whether officers and directors
of Impax Laboratories, Inc. (NASDAQ: IPXL) breached their fiduciary duties to
shareholders by failing to correct the Company's inadequate quality controls
and deficiencies in its manufacturing processes.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

The FDA Notifies the Company of Its "Significant Violations of Current Good
Manufacturing Practice Regulations"

On June 3, 2011, Impax received a warning letter from the Food and Drug
Administration ("FDA") following an on-site inspection of Impax's Hayward, CA
pharmaceutical manufacturing facility conducted between December 13, 2010 and
January 21, 2011. In the warning letter, the FDA notified Impax of the
company's "significant violations of Current Good Manufacturing Practice
regulations for Finished Pharmaceuticals."

Continued Manufacturing Deficiencies Persist at Impax's Hayward Facility Delay
Bringing Rytary to Market

On March 3, 2013, Impax announced the results of a subsequent FDA inspection
of the Hayward Facility that included a re-inspection in connection with the
May 2011 warning letter and a pre-approval inspection for the company's newly
developed drug, Rytary. Following this inspection, the FDA issued a Form 483,
"Notice of Inspectional Observances," documenting 12 problems, three of which
were previously observed and noted in the 2011 warning letter. As a result of
these continued manufacturing deficiencies, Impax has stated that it will be
unable to bring Rytary to market before 2014. On this news, Impax's stock
declined $5.20 per share, or 26%, to close at $14.80 per share on March 5,
2013.

Robbins Arroyo LLP highlights that Impax shareholders have the option to
pursue a shareholder derivative action through which shareholders aim to hold
insider wrongdoers accountable for their actions, prevent future misconduct,
and bring long-term value back to the company. Concerned shareholders who
would like more information about their rights and potential remedies can
contact attorney Darnell R. Donahue at (800) 350-6003,
DDonahue@robbinsarroyo.com, or via the shareholder information form on the
firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to http://www.robbinsarroyo.com.

Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/impax-laboratories-inc/

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free at (800) 350-6003
www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
 
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