Impax Laboratories Inc (NASDAQ: IPXL)
Impax Laboratories is having an overwhelmingly strong day in the market today, and for good reason. Investors are cheering the appointment of a new CEO. As a result, the stock is flying high, which prompted our partners at Trade Ideas to alert us of the gains. At the moment (10:16), IPXL is trading at $11:18 per share after a gain of $1.93 per share or 20.81% thus far today.
IPXL Appoints Paul M. Bisaro As President And CEO
As mentioned above, Impax Laboratories is having an incredibly strong day in the market today after announcing the appointment of a new CEO. In a press release, the company announced that Paul M. Bisaro has been appointed as the President and CEO of the company.
Bisaro brings 25 years of generic and branded pharmaceutical experience to IPXL. He has a strong, successful record as a global business leader. Bisaro has served as executive chairman at Allergan as well as President and CEO of Actavis. In a statement, Robert L. Burr, Chairman at IPXL had the following to offer…
“We are pleased to have Paul, a highly respected and accomplished leader, with a strong track record of delivering superior shareholder returns and financial performance, join Impax as our new CEO… Following a thorough review of candidates, the Board determined that Paul’s broad experience across the specialty pharmaceutical industry and demonstrated ability to grow and transform an organization, make him the right person to oversee the Company’s future direction. On behalf of the entire Board, I would also like to thank Keven for his leadership in stepping into the interim CEO role.”
The above statement was followed up by incoming CEO, Mr. Bisaro, with the following…
“I am excited about the opportunity to lead Impax to its full potential in a rapidly changing environment… Impax has a strong reputation for its drug delivery, formulation and product development capabilities. We will continue to focus on developing high-quality products that meet the unique needs of our patients. Combining our R&D priorities with providing best in class customer service will provide additional value to our customers and deliver value for our shareholders.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance Team will be keeping a close eye on IPXL. In particular, we’re interested in watching the evolution of the company as Mr. Bisaro takes control. Nonetheless, we’ll continue to follow the story closely and bring you the news as it breaks!
What Do You Think?
Where do you think IPXL is headed moving forward? Join the discussion in the comments below!
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