IMPAX Laboratories, Inc. and Endo Pharmaceuticals Settle Pending Litigation for Opana(R) ER and Announce Development and Co-Promotion Agreement

HAYWARD, Calif.--(BUSINESS WIRE)--Impax Laboratories, Inc. (Nasdaq: IPXL) today announced that it has reached agreement with Endo Pharmaceuticals (Nasdaq: ENDP) and Penwest Pharmaceuticals (Nasdaq PPCO) to settle pending U.S. litigation with regard to the production and sale of generic formulations of OPANA® ER (oxymorphone hydrochloride) Extended Release tablets. Under the terms of the settlement, Endo and Penwest have agreed to grant Impax a license to sell a generic of OPANA® ER on Jan. 1, 2013 or earlier under certain circumstances.