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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):August 22, 2000
IMPAX LABORATORIES, INC. (formerly Global Pharmaceutical Corporation)
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(Exact name of registrant as specified in its charter)
Delaware 0-27354 65-0403311
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation or Identification Number)
organization)
30831 Hayward Avenue
Hayward, California 94544
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(Address of principal executive offices, including zip code)
(215) 289-2220
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(Registrant's telephone number, including area code)
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ITEM 5. Other Events
Impax Laboratories, Inc. (the "Company") has determined to cease
manufacturing at its Philadelphia facility and to consolidate all manufacturing
activities at its facility in Hayward, California, a process which is expected
to take six to nine months to complete. The Philadelphia facility will be used
for packaging, repackaging, and distribution of finished products from third
parties and the Hayward facility. Additionally, a review of all manufactured
products is underway in order to rationalize the product line consistent with
these changes. The action is being taken to utilize the Company's resources in
the most economical way and to resolve long-standing regulatory issues with the
Philadelphia facility. The products adversely affected by the consolidation, and
which may be affected by the rationalization, represent approximately 35% of the
Company's revenues.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Impax Laboratories, Inc.
Date: August 24, 2000 By: /s/ Cornel C. Spiegler
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Name: Cornel C. Spiegler
Title: Chief Financial Officer
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