[GRAPHIC OMITTED] IMPAX
                  LABORATORIES, INC.



COMPANY CONTACTS:                       INVESTOR RELATIONS CONTACTS:
IMPAX Laboratories, Inc.                Lippert/Heilshorn & Associates, Inc.
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Barry R. Edwards, CEO                   Kim Sutton Golodetz (kgolodetz@lhai.com)
(215) 933-0323 Ext. 4360                (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. 1706                ------------
www.Impaxlabs.com
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            IMPAX LAUNCHES GENERIC VERSION OF OXYCONTIN(R) CONTROLLED
                              RELEASE 80 MG TABLETS

HAYWARD, CALIF. (MARCH 3, 2005) -- IMPAX LABORATORIES, INC. (NASDAQ: IPXL) has
begun commercial distribution of its generic version of OxyContin(R) (Oxycodone
Hydrochloride) Controlled Release 80 mg Tablets. The product is being sold under
the Global label and marketed by IMPAX's Global Pharmaceuticals division.

The U.S. Food and Drug Administration (FDA) granted final approval to the
company's Abbreviated New Drug Application in late September 2004. IMPAX agreed
not to market the product until FDA deemed the Company's Risk Management Program
(RMP) acceptable. The Company's revised RMP now is acceptable to the regulatory
agency.

Purdue Pharma markets OxyContin for the management of moderate to severe pain.
According to NDCHealth, U.S. sales of OxyContin Controlled Release 80mg Tablets
and its generic equivalent were $677 million for the 12 months ended December
31, 2004.

Commenting on the product launch, Barry R. Edwards, chief executive officer
said, "Last January 2004 the U.S. District Court for the Southern District of
New York issued an Opinion and Order in Purdue v. Endo declaring Purdue
Frederick's patents on its OxyContin invalid. Purdue has appealed this decision
and those arguments were heard in November 2004. A decision has not yet been
rendered and if the court finds in favor of Purdue, IMPAX could, at some point,
be liable for damages as a result of the product launch. If the Endo decision on
unenforceability is reversed, Endo raised additional defenses at trial, which
have yet to be decided by the district court, and Impax will have the
opportunity to present additional defenses as well. The decision to launch was
made after a great deal of deliberation and thought by our Board of Directors.
The pace of our initial product rollout is expected to be slow and grow over
time."








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.
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"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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