UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 21, 2005
Impax Laboratories, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-27354 65-0403311
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(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
30831 Huntwood Ave., Hayward, CA 94544
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (510) 476-2000
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On March 16, 2005, Impax Laboratories, Inc. (the "Company") entered into
an Amendment to a Development, License and Supply Agreement, dated as of June 1,
2002, between Wyeth, acting through its Wyeth Consumer Healthcare Division, and
the Company. The original Agreement related to the license by the Company to
Wyeth of certain technical and proprietary information related to the Company's
(i) twelve-hour extended release tablet containing 5 mg Loratadine and 120 mg
Pseudoephedrine (the "D-12 Product") and (ii) twenty-four hour extended release
tablet containing 10 mg Loratadine and 240 mg Pseudoephedrine (the "D-24
Product"). The original Agreement also related to the supply of the D-12 Product
and the D-24 Product by the Company, and the distribution of such products by
Wyeth.
Pursuant to the amendment, the Company and Wyeth agreed to terminate the
Agreement with respect to the D-24 Product, and all references in the Agreement
to the D-24 Product were deemed removed. In addition, Wyeth agreed to pay the
Company $300,000 in full satisfaction of all obligations that Wyeth may have
with respect to the D-24 Product under the Agreement. In consideration of the
Company entering into the Amendment, Wyeth released the Company from any and all
obligations (past, present or future) that the Company had with respect to the
D-24 Product under the Agreement. The Agreement remains in full force and effect
with respect to the D-12 Product. A copy of the amendment is attached as Exhibit
10.1 to this Form 8-K and is incorporated by reference herein.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
10.1 - Amendment to the Development, License and Supply Agreement
between Wyeth, acting through its Wyeth Consumer Healthcare
Division, and Impax Laboratories, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IMPAX LABORATORIES, INC.
Date: March 21, 2005 By: /s/ Cornel C. Spiegler
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Name: Cornel C. Spiegler
Title: Chief Financial Officer
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