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Impax Laboratories Inc. (IPXL) Has Plunged To A New Low After FDA Inspection

Impax Laboratories Inc. (IPXL: Quote) announced after the bell Monday that the FDA completed its re-inspection of the company's Hayward manufacturing facility in connection with the Form 483 issued in March last year. At the conclusion of the inspection, the FDA issued a new Form 483 with twelve observations, three of which are designated as repeat observations from inspections that occurred prior to the warning letter.

Impax Laboratories has gapped open dramatically lower Tuesday and is now down 4.87 at $15.13 on strong volume. The stock has plummeted to a new low for the year.

by RTT Staff Writer

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