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Impax's Second Quarter 2014 Revenues Increased 45% to $188.1 Million
Date:8/6/2014

ing the mid-April launch of the Company's allotment of a specified number of bottles of authorized generic RENVELA®.

Rx Partner revenues increased $5.5 million to $9.2 million in the second quarter 2014, compared to $3.7 million in the prior year period. The increase was the result of profit share earned of $3.3 million under the Company's agreement with Perrigo Company, plc related to the launch of generic Astepro®, as well as higher profit share earned under the Company's agreement with Teva Pharmaceutical Industries, Limited of $2.2 million.

Gross margin in the second quarter 2014 increased to 60.4%, compared to gross margin of 41.8% in the prior year period. Adjusted gross margin in the second quarter 2014 increased to 66.5%, compared to adjusted gross margin of 49.6% in the prior year period. The increase in gross margin and adjusted gross margin was due to the favorable contribution from several key generic products, including authorized generic RENVELA®.Total Global Pharmaceuticals operating expenses in the second quarter 2014 decreased to $17.1 million, compared to $17.5 million in the prior year period, due to reduced patent litigation expenses. Impax Pharmaceuticals Division InformationThree Months EndedSix Months Ended(unaudited, amounts in thousands)June 30, June 30, 2014201320142013Revenues:Impax Product sales, net

$
,460
$  35,334$
20,769
$   81,855Other revenues

267332536663Total revenues

11,72735,666

SOURCE Impax Laboratories, Inc.
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