IMPAX Laboratories, Inc.Reports Third Quarter 2011 Financial Results

HAYWARD, Calif.--(BUSINESS WIRE)--Impax Laboratories, Inc. (NASDAQ: IPXL) today reported third quarter ended September 30, 2011 financial results. •Adjusted net income, increased 26% to $20.0 million or $0.30 per diluted share, compared to adjusted net income of $15.8 million or $0.24 per diluted share in the prior year period. •Unadjusted net income was $17.2 million, or $0.26 per diluted share, compared to $75.2 million, or $1.15 per diluted share in the prior year period. The decline was primarily attributable to the change in accounting for the Teva Agreement as further described below.