Allen Chao, Ph.D. Elected to Impax Laboratories Board of Directors
April 08 2010 - 8:30AM
Business Wire
Impax Laboratories, Inc. (NASDAQ: IPXL) today
announced that Allen Chao, Ph.D., has been elected to the Company’s
board of directors. Dr. Chao is currently Chairman of Newport
Healthcare Advisors, LLC, a healthcare investment management and
consulting company. Dr. Chao was elected to fill the vacancy to be
left by board member Oh Kim Sun, a director since 1999, who has
decided not to stand for re-election at the annual stockholders
meeting. Dr. Chao and the six other members of the board will stand
for election at the Company's annual stockholders meeting on May
25, 2010.
Robert L. Burr, chairman of the board of Impax Laboratories,
said: “We are delighted that Dr. Chao will be joining the board. He
brings a profound understanding of financial investment, business
development, strategic planning and operational management in
our industry and can provide
invaluable practical guidance, insight and perspective
with respect to our operations, strategy, and corporate
governance.”
Dr. Chao was a co-founder of Watson Pharmaceuticals,
Inc., a specialty pharmaceutical company, serving as a
director from 1985 to May 2008, Chairman of the board of directors
from May 1996 to May 2008, and Chief Executive Officer from
1985 to September 2007. While at Watson, Dr. Chao oversaw the
company’s growth, through internal R&D, licensing and
acquisitions of pharmaceutical products and technologies, as well
as mergers and acquisition activities.
Dr. Chao received a Ph.D. in industrial and physical pharmacy
from Purdue University in 1973. In May of 2000, he received the
degree of Doctor of Science from Purdue in recognition of his
leadership and vision for the production and marketing of
pharmaceutical products.
Mr. Burr continued: “On behalf of the other members of the
board, I would like to thank Oh Kim Sun for his more than 10 years
of service on the board. His knowledge and leadership were
instrumental in helping to guide the organization through
challenging and growth periods. He will surely be missed.”
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.
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