Mary K. Pendergast Appointed to Impax Laboratories Board of Directors

  Mary K. Pendergast Appointed to Impax Laboratories Board of Directors

Business Wire

HAYWARD, Calif. -- July 5, 2013

Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that Mary K.
Pendergast, J.D., LL.M. has been appointed to the Company’s Board of Directors
effective as of July 3, 2013. Ms. Pendergast is currently President of
Pendergast Consulting, a legal and regulatory consulting firm to
pharmaceutical and biotechnology companies. Ms. Pendergast spent more than 18
years at the U.S. Food and Drug Administration (FDA) serving as Deputy
Commissioner and Senior Advisor to the FDA Commissioner and as Associate Chief
Counsel for Enforcement.

Robert L. Burr, Chairman of the Board of Impax Laboratories, said: “We are
delighted that Ms. Pendergast will be joining the Board. She brings
significant experience and understanding of the legal and regulatory landscape
across our industry and can provide invaluable strategic and practical
guidance, insight, and perspective with respect to our operations, compliance,
and strategy.”

Ms. Pendergast will be a member of the Board’s Compliance Committee, which was
established to provide oversight for all activities of the Company related to
the FDA warning letter for the Hayward site including obtaining approval of
the Company’s New Drug Application for an investigational drug, RYTARY^TM, for
the treatment of idiopathic Parkinson’s disease.

Prior to founding her own firm in 2003, she was Executive Vice President,
Government Affairs, at Elan Corporation from 1998 to 2003. Ms. Pendergast
served as Deputy Commissioner and Senior Advisor to the Commissioner at the
FDA from 1990 to 1997, and also served as Associate Chief Counsel for
Enforcement at the FDA from 1979 to 1990.

Ms. Pendergast is on the Board of Directors of AesRx, G2B pharma, and the Arch
Foundation. She received her LL.M., J.D., and B.A. degrees from Yale Law
School, the University of Iowa College of Law, and Northwestern University,
respectively.

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.Impaxmarkets its generic products through itsGlobal
Pharmaceuticalsdivision and markets its branded products through theImpax
Pharmaceuticalsdivision. Additionally, where strategically appropriate,
Impaxdevelops 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: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 the Company’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, the effect of current
economic conditions on the Company’s industry, business, financial position
and results of operations, fluctuations in revenues and operating income, the
Company’s ability to promptly correct the issues raised in the warning letter
and Form 483 observations received from theFDA, the Company’s ability to
successfully develop and commercialize pharmaceutical products in a timely
manner, reductions or loss of business with any significant customer, the
impact of consolidation of the Company’s customer base, the impact of
competition, the Company’s ability to sustain profitability and positive cash
flows, any delays or unanticipated expenses in connection with the operation
of the Company’sTaiwanfacility, the effect of foreign economic, political,
legal and other risks on the Company’s operations abroad, the uncertainty of
patent litigation, the increased government scrutiny on the Company’s
agreements with brand pharmaceutical companies, consumer acceptance and demand
for new pharmaceutical products, the impact of market perceptions of the
Company and the safety and quality of the Company’s products, the difficulty
of predictingFDAfilings and approvals, the Company’s ability to achieve
returns on its investments in research and development activities, the
Company’s inexperience in conducting clinical trials and submitting new drug
applications, the Company’s ability to successfully conduct clinical trials,
the Company’s reliance on third parties to conduct clinical trials and
testing, impact of illegal distribution and sale by third parties of
counterfeits or stolen products, the availability of raw materials and impact
of interruptions in the Company’s supply chain, the use of controlled
substances in the Company’s products, disruptions or failures in the Company’s
information technology systems and network infrastructure, the Company’s
reliance on alliance and collaboration agreements, the Company’s dependence on
certain employees, the Company’s ability to comply with legal and regulatory
requirements governing the healthcare industry, the regulatory environment,
the Company’s ability to protect its intellectual property, exposure to
product liability claims, changes in tax regulations, the Company’s ability to
manage growth, including through potential acquisitions, the restrictions
imposed by the Company’s credit facility, uncertainties involved in the
preparation of the Company’s financial statements, the Company’s ability to
maintain an effective system of internal control over financial reporting, the
effect of terrorist attacks on the Company’s business, the location of the
Company’s manufacturing and research and development facilities near
earthquake fault lines andother risks described in the Company’s periodic
reports filed with the Securities and Exchange Commission.Forward-looking
statements speak only as to the date on which they are made, and the Company
undertakes no obligation to update publicly or revise any forward-looking
statement, regardless of whether new information becomes available, future
developments occur or otherwise.

Contact:

Impax Laboratories, Inc.
Mark Donohue, 215-558-4526
Investor Relations and Corporate Communications
www.impaxlabs.com