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Company Contacts:                      Investor Relations Contacts:
IMPAX Laboratories, Inc.               Lippert/Heilshorn & Associates, Inc.
Barry R. Edwards, Co-CEO               Kim Sutton Golodetz (kgolodetz@lhai.com)
(215) 289-2220 Ext. 371                (212) 838-3777
Larry Hsu, Ph.D., President            Bruce Voss (bvoss@lhai.com)
(510) 476-2000 Ext. 1111               (310) 691-7100
Cornel C. Spiegler, CFO                www.lhai.com
(215) 289-2220 Ext. 306
www.IMPAXlabs.com




           IMPAX PREVAILS IN TRICOR CAPSULES PATENT INFRINGEMENT SUIT


Hayward, CA - March 28, 2003 - IMPAX Laboratories, Inc. (NASDAQ NM: IPXL) today
announced that U.S. District Judge Joan B. Gottschall in Chicago ruled that its
Fenofibrate Capsules, a generic form of Tricor(R) Capsules, Micronized, does not
infringe Abbott Laboratories' (NYSE: ABT) patent on this product. Tricor is
marketed for the treatment of hypercholesterolemia and hydertriglyceridemia.
According to IMS Health, U.S. sales of the capsule for the lipid-regulating
agent were approximately $2.3 million for the year ending December 31, 2002, as
Abbott converted usage to the tablet form prior to the availability of generic
capsules.

In February 2002, the U.S. Food and Drug Administration granted IMPAX
Laboratories tentative approval of the Company's Abbreviated New Drug
Application (ANDA) for 67mg, 134mg and 200mg Fenofibrate Capsules (Micronized).
Final approval is contingent upon the earlier of (1) the settlement of pending
patent-infringement litigation brought by Abbott against IMPAX, or (2) the
expiration of the 30-month stay process under the Hatch-Waxman Amendments; and
the expiration of any generic marketing exclusivity. Final approval is also
dependent upon FDA's evaluation of any new information subsequent to this
tentative approval.

The FDA accepted for review IMPAX's application to market a generic version of
Abbott's Tricor (Fenofibrate) Tablets in December 2002. IMPAX's submission
included a Paragraph IV certification stating that, to the Company's knowledge,
the product does not infringe upon Abbott's listed Tricor tablet patents. Abbott
Laboratories (NYSE: ABT) has filed lawsuits against the Company in the federal
district court in Delaware alleging patent infringement related to IMPAX's
filing of an ANDA for a generic version of Abbott's Tricor(R) Tablets. These
lawsuits are continuing. According to IMS Health, U.S. sales of Tricor Tablets
were approximately $445 million in the 12 months ended December 31, 2002.

Barry R. Edwards, Co-Chief Executive Officer of IMPAX Laboratories, commented,
"We are very pleased to have prevailed in court. Our Global Pharmaceuticals
division will begin marketing our generic Tricor capsules after receipt of final
FDA approval for this product."

IMPAX has 19 applications pending at the FDA, including three tentatively
approved, that address more than $5.8 billion in U.S. branded product sales for
the 12 months ended December 31, 2002. Thirteen of these filings were made under
Paragraph IV of the Hatch-Waxman Amendments.



IMPAX Laboratories, Inc. is a technology based 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 branded products. IMPAX markets its generic products through its
Global Pharmaceuticals division and intends to market its branded products
through the IMPAX Pharmaceuticals division. Additionally, where strategically
appropriate, IMPAX has developed marketing partnerships to fully leverage its
technology platform. IMPAX Laboratories is headquartered in Hayward, California,
and has a full range of capabilities in its Hayward and Philadelphia facilities.
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 IMPAX'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, IMPAX's ability to obtain sufficient capital to fund its
operations, the difficulty of predicting FDA filings and approvals, consumer
acceptance and demand for new pharmaceutical products, the impact of competitive
products and pricing, IMPAX's ability to successfully develop and commercialize
pharmaceutical products, IMPAX's reliance on key strategic alliances, the
uncertainty of patent litigation, the availability of raw materials, the
regulatory environment, dependence on patent and other protection for innovative
products, exposure to product liability claims, fluctuations in operating
results and other risks detailed from time to time in IMPAX's filings with the
Securities and Exchange Commission. Forward-looking statements speak only as to
the date on which they are made, and IMPAX undertakes no obligation to update
publicly or revise any forward-looking statement, regardless of whether new
information becomes available, future developments occur or otherwise.

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