Here's Why Impax Laboratories Inc Jumped 18% In July

In response to receiving a double dose of good news from the Food and Drug Administration (FDA) and some bullish commentary from Wall Street, shares of Impax Laboratories (NASDAQ: IPXL), a maker of generic and branded pharmaceutical products, rose 18% in July, according to data from S&P Global Market Intelligence.

Impax shared two upbeat regulatory news items with investors during the month. First, Impax announced that the FDA approved its generic version of Focalin XR (dexmethylphenidate hydrochloride) extended-release capsules. Focalin XR is a treatment for attention deficit hyperactivity disorder (ADHD) that's marketed by Swiss pharma giant Novartis.

Branded and generic sales of dexmethylphenidate hydrochloride products in the U.S. over the last 12 months were estimated to be about $93 million. Management said that it would commence with the commercialization of the drug right away.

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Source: Fool.com