Needham & Company Maintains a 'Hold' on Impax Laboratories (IPXL); Adderall XR Supply Issues Turn Positive, Leading to Solid 4Q11 EPS Beat

Needham & Company maintains a 'Hold' on Impax Laboratories (NASDAQ: IPXL).

Analyst, Elliot Wilbur, said, "IPXL reported solid 4Q11 results outpacing both our estimates and Street consensus. The bulk of the upside stemmed from strong generic Adderall XR sales and a significant revenue uptick from the base generics business. Despite the strong Q, IPXL’s short-to-medium term outlook continues to be mired by the unresolved FDA warning letter. It now looks near-certain that the exclusivity period around generic Trilipix (requires March 1, 2012 approval) will be the second forfeited opportunity (after generic Doryx) resulting from the FDA warning letter. While developments in the branded business (licensing of Zomig and upcoming PDUFA for IPX-066 in Oct. 2012) are positive, we expect IPXL shares to remain range-bound as the company works through its two major issues, the FDA warning letter and the generic Adderall XR supply issues."

For an analyst ratings summary and ratings history on Impax Laboratories click here. For more ratings news on Impax Laboratories click here.

Shares of Impax Laboratories closed at $23.62 yesterday.

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