Shares of Impax Laboratories (IPXL +0.00%) spiraled down more than 25% today after the company reported that the FDA continues to have concerns with one of its manufacturing facilities. This issue has already held up the potential approval of the company's Parkinson's disease drug, Rytary -- a therapeutic that the company has partially licensed to pharma stalwart GlaxoSmithKline (NYSE: GSK) -- which was rejected by the FDA in January. In the following video, health care analyst Max Macaluso sheds light on this story.
Down 27%: Impax Labs' Massive Drop
By Max Macaluso – Mar 5, 2013 at 6:30PM
NASDAQ: IPXL
Impax Laboratories
Why did shares of Impax crumble today?
About the Author
Max is the Technology, Biopharma & Health Care Bureau Chief at Fool.com. Prior to joining the Fool, he completed a PhD in chemistry at the University of Cambridge and an MBA at the College des Ingenieurs.
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