HAYWARD, Calif., Nov. 8, 2017 /PRNewswire/ -- Impax
Laboratories, Inc. (NASDAQ: IPXL) is mourning the loss
of Richard A. Bierly, a member of
the Impax Board of Directors, who recently passed away. Appointed
in August 2016, Richard also served
on the Board's Audit and Compensation Committees. He had a long and
successful finance career in the pharmaceutical industry, most
recently serving as Chief Financial Officer of Medivation, Inc., a
biopharmaceutical company acquired by Pfizer in 2016.
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"We are deeply saddened by the sudden passing of Rick Bierly," said Bob
Burr, Chairman of the Board of Impax Laboratories. "Rick was
a distinguished executive who brought exceptional leadership
characteristics and unique industry perspectives. As Impax
architected its plan for growth and delivering long-term
shareholder value, Rick's nearly four decades of finance and
accounting experience, and strategic insights made him a valued
addition to our Board. We deeply appreciate his contributions to
both our Board and our Audit and Compensation Committees and will
miss his guiding voice. Our thoughts and prayers are with his
family and friends."
About Impax Laboratories, Inc.
Impax Laboratories, Inc. (Impax) is a 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. Impax markets its generic products
through its Impax Generics division and markets its branded
products through the Impax Specialty Pharma division. Additionally,
where strategically appropriate, Impax develops 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: fluctuations in the Company's operating results and
financial condition; the volatility of the market price of the
Company's common stock; the Company's ability to successfully
develop and commercialize pharmaceutical products in a timely
manner; the impact of competition; the effect of any manufacturing
or quality control problems; the Company's ability to manage
its growth; risks related to acquisitions of or investments in
technologies, products or businesses; the risks related to the sale
or closure of our Taiwan
manufacturing facility; effects from fluctuations in currency
exchange rates between the U.S. dollar and the Taiwan dollar; risks relating to goodwill and
intangibles; the reduction or loss of business with any significant
customer; the substantial portion of the Company's total revenues
derived from sales of a limited number of products; the impact of
consolidation of the Company's customer base; the Company's ability
to sustain profitability and positive cash flows; the impact of any
valuation allowance on the Company's deferred tax assets; the
restrictions imposed by the Company's credit facility and
indenture; the Company's level of indebtedness and liabilities and
the potential impact on cash flow available for operations; the
availability of additional funds in the future; any delays or
unanticipated expenses in connection with the operation of the
Company's manufacturing facilities; the effect of foreign economic,
political, legal and other risks on the Company's operations
abroad; the uncertainty of patent litigation and other legal
proceedings; the increased government scrutiny on the Company's
agreements to settle patent litigations, product development risks
and the difficulty of predicting FDA filings and approvals;
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 Company's determinations to
discontinue the manufacture and distribution of certain products;
the Company's ability to achieve returns on its investments in
research and development activities; changes to FDA approval
requirements; the Company's ability to successfully conduct
clinical trials; the Company's reliance on third parties to conduct
clinical trials and testing; the Company's lack of a license
partner for commercialization of Numient® (IPX066) outside of
the United States; 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 Company's policies
regarding returns, rebates, allowances and chargebacks; the use of
controlled substances in the Company's products; the effect of
current economic conditions on the Company's industry, business,
results of operations and financial condition; disruptions or
failures in the Company's information technology systems and
network infrastructure caused by third party breaches or other
events; the Company's reliance on alliance and collaboration
agreements; the Company's reliance on licenses to proprietary
technologies; 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
effect of certain provisions in the Company's government contracts;
the Company's ability to protect its intellectual property;
exposure to product liability claims; changes in tax regulations;
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; expansion of social media
platforms and other 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.
Company
Contact:
Mark Donohue
Investor Relations and Corporate Communications
(215)
558-4526
www.impaxlabs.com
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SOURCE Impax Laboratories, Inc.