Shares of Impax Laboratories were down 19% to $11.50 in premarket trading on Wednesday after the company reported results and said it is not issuing 2017 guidance for total revenue and EPS because of ongoing revenue volatility in its generics unit. The Fort Washington, Pa.-based firm reported fourth-quarter adjusted earnings per share of 16 cents on revenue of $198.4 million.
Category: Impax Laboratories
Mylan’s Troubles Just Won’t Stop as Key Insurer Drops EpiPen
Cigna will no longer cover Mylan’s EpiPen and EpiPen Jr. autoinjectors, instead encouraging patients to use Impax ‘s generic device for treatment of severe allergic reactions. The move was effective as of Jan. 7, when Cigna released a list of changes to coverage for 2017.
Impax Searches for a New CEO
Wilkinson steps down amid feds’ generic price fixing investigation. J. Kevin Buchi, who joined the board last month, tapped as interim CEO.