Impax Laboratories (IPXL) Misses Q2 EPS by 1c

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Go back to Impax Laboratories (IPXL) Misses Q2 EPS by 1c

Impax Reports Second Quarter 2015 Financial Results

August 10, 2015 6:45 AM EDT

HAYWARD, Calif., Aug. 10, 2015 /PRNewswire/ -- Impax Laboratories, Inc. (NASDAQ: IPXL) today reported second quarter 2015 financial results for the period ending June 30, 2015.

Total revenues for the second quarter 2015 increased 14% to $214.2 million, compared to $188.1 million in the prior year period. The increase was primarily due to the addition of product revenues from the Company's acquisition on March 9, 2015 of Tower Holdings, Inc. and Lineage Therapeutics Inc. (together with its subsidiaries, "Tower"), and sales from new brand and generic product launched in 2015. Adjusted diluted... More

Impax Announces Sale of Daraprim® to Turing Pharmaceuticals AG

August 10, 2015 6:30 AM EDT

HAYWARD, Calif., Aug. 10, 2015 /PRNewswire/ -- Impax Laboratories, Inc. (NASDAQ: IPXL) today announced that it has sold its U.S. rights to the Daraprim brand to Turing Pharmaceuticals AG for approximately $55 million.

Impax acquired Daraprim as part of the Company's acquisition of Tower Holdings, Inc. (including operating subsidiaries CorePharma LLC and Amedra Pharmaceuticals LLC), and Lineage Therapeutics Inc. (together "Tower") which was completed on March 9, 2015.

Fred Wilkinson, President and Chief Executive Officer of Impax stated, "This transaction makes sense for both parties. Daraprim will enhance Turing's product portfolio... More