Impax Laboratories, Inc. (NASDAQ:IPXL) Files An 8-K Material Impairments
Item 2.06. Material Impairments.

As a result of entering into the Purchase Agreement on December 19, 2017 to which the Company has agreed to sell to Bora the Shares of Impax Taiwan as more fully described under Item 1.01 in the Initial 8-K, Company’s management concluded on December 19, 2017 that the Company anticipates that a material charge for impairment to the Impax Taiwan manufacturing facility will be required under generally accepted accounting principles applicable to the Company. The Company currently expects to record an aggregate impairment charge with respect to the Impax Taiwan manufacturing facility of approximately $70 million to $80 million during the fourth quarter of 2017. The anticipated impairment is not expected to result in any current or future cash expenditures.

Forward-Looking Statements

Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, including those with respect to the Purchase Agreement. Such forward-looking statements are based on the Company’s expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements. Such risks and uncertainties include, but are not limited to, general economic conditions, conditions in the debt and equity markets, legislative and regulatory changes, changes in demand for products produced by the Company, changes in accounting principles, policies or guidelines, and other economic, competitive, governmental, and technological factors affecting the operations, markets, products and services of the Company and its subsidiaries (including the Company’s ability to complete the transaction) and the other risks described in our most recent Annual Report on Form 10-K and other subsequent filings with the Securities and Exchange Commission. Forward-looking statements included herein speak only as of the date hereof and we undertake no obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.

About Impax Laboratories, Inc. (NASDAQ:IPXL)

Impax Laboratories, Inc. is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma. The Impax Generics segment is focused on the development, manufacture, sale and distribution of its generic products, which are the pharmaceutical and therapeutic equivalents of brand-name drug products and are marketed under their established drug names. The Impax Specialty Pharma segment is engaged in the promotion, sale and distribution of various branded products, including its branded pharmaceutical product, Rytary, an extended release oral capsule formulation of carbidopa-levodopa for the treatment of Parkinson’s disease, post-encephalitic Parkinsonism and Parkinsonism, and Zomig (zolmitriptan) products, indicated for the treatment of migraine headaches.