Impax Laboratories Inc. (IPXL) 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 gapped open dramatically lower Tuesday, but traded in a range for the majority of the session. Shares finished down by 5.20 at $14.80 on the highest volume of the year. The stock plunged to a new low for the year.
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