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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt No Debt
IPXL's Cash to Debt is ranked higher than
95% of the 750 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.39 vs. IPXL: No Debt )
IPXL' s 10-Year Cash to Debt Range
Min: 0.73   Max: No Debt
Current: No Debt

Equity to Asset 0.81
IPXL's Equity to Asset is ranked higher than
86% of the 712 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 0.60 vs. IPXL: 0.81 )
IPXL' s 10-Year Equity to Asset Range
Min: 0.12   Max: 0.81
Current: 0.81

0.12
0.81
F-Score: 5
Z-Score: 7.63
M-Score: -2.97
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) -1.25
IPXL's Operating margin (%) is ranked higher than
54% of the 710 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 9.34 vs. IPXL: -1.25 )
IPXL' s 10-Year Operating margin (%) Range
Min: -1418.74   Max: 44.72
Current: -1.25

-1418.74
44.72
Net-margin (%) 19.80
IPXL's Net-margin (%) is ranked higher than
92% of the 710 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 7.48 vs. IPXL: 19.80 )
IPXL' s 10-Year Net-margin (%) Range
Min: -1376.35   Max: 46
Current: 19.8

-1376.35
46
ROE (%) 12.50
IPXL's ROE (%) is ranked higher than
87% of the 713 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 7.00 vs. IPXL: 12.50 )
IPXL' s 10-Year ROE (%) Range
Min: -426.49   Max: 93.86
Current: 12.5

-426.49
93.86
ROA (%) 10.16
IPXL's ROA (%) is ranked higher than
93% of the 742 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 3.94 vs. IPXL: 10.16 )
IPXL' s 10-Year ROA (%) Range
Min: -153.23   Max: 36.12
Current: 10.16

-153.23
36.12
ROC (Joel Greenblatt) (%) -2.27
IPXL's ROC (Joel Greenblatt) (%) is ranked higher than
55% of the 732 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 14.50 vs. IPXL: -2.27 )
IPXL' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -231.43   Max: 258.5
Current: -2.27

-231.43
258.5
Revenue Growth (%) -17.80
IPXL's Revenue Growth (%) is ranked lower than
53% of the 552 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 5.10 vs. IPXL: -17.80 )
IPXL' s 10-Year Revenue Growth (%) Range
Min: 0   Max: 203.4
Current: -17.8

0
203.4
EBITDA Growth (%) -24.50
IPXL's EBITDA Growth (%) is ranked higher than
50% of the 507 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.80 vs. IPXL: -24.50 )
IPXL' s 10-Year EBITDA Growth (%) Range
Min: -34.9   Max: 61.6
Current: -24.5

-34.9
61.6
EPS Growth (%) -27.30
IPXL's EPS Growth (%) is ranked higher than
51% of the 510 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.40 vs. IPXL: -27.30 )
IPXL' s 10-Year EPS Growth (%) Range
Min: -32.2   Max: 55.1
Current: -27.3

-32.2
55.1
» IPXL's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

IPXL Guru Trades in Q1 2013

Jim Simons 913,939 sh (+1386.08%)
Paul Tudor Jones 42,700 sh (+132.07%)
Steven Cohen 96,782 sh (-82.28%)
» More
Q2 2013

IPXL Guru Trades in Q2 2013

RS Investment Management 2,484,909 sh (New)
Steven Cohen 129,200 sh (+33.5%)
Jim Simons 946,300 sh (+3.54%)
Paul Tudor Jones Sold Out
» More
Q3 2013

IPXL Guru Trades in Q3 2013

Steven Cohen 177,555 sh (+37.43%)
Jim Simons 1,065,200 sh (+12.56%)
RS Investment Management 2,534,898 sh (+2.01%)
» More
Q4 2013

IPXL Guru Trades in Q4 2013

Paul Tudor Jones 11,100 sh (New)
Jim Simons 1,408,300 sh (+32.21%)
RS Investment Management 2,350,484 sh (-7.28%)
Steven Cohen 17,474 sh (-90.16%)
» More
» Details

Insider Trades

Latest Guru Trades with IPXL

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
John Hussman 2012-03-31 Sold Out 0.11%$18.64 - $24.37 $ 23.9215%0
Joel Greenblatt 2012-03-31 Sold Out 0.05%$18.64 - $24.37 $ 23.9215%0
Joel Greenblatt 2011-12-31 Reduce -88.51%0.47%$16.53 - $20.75 $ 23.9228%21057
Joel Greenblatt 2011-09-30 Reduce -40.22%0.38%$15.26 - $21.56 $ 23.9222%183187
Joel Greenblatt 2011-06-30 Add 446.09%0.76%$20.21 - $28.73 $ 23.92-5%306452
George Soros 2011-06-30 Sold Out $20.21 - $28.73 $ 23.92-5%0
Joel Greenblatt 2011-03-31 Reduce -78.32%1.55%$20.11 - $25.52 $ 23.925%56118
John Hussman 2011-03-31 Add 20.21%0.02%$20.11 - $25.52 $ 23.925%339000
George Soros 2011-03-31 Reduce -41.13%$20.11 - $25.52 $ 23.925%13600
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 16.10
IPXL's P/E(ttm) is ranked higher than
82% of the 528 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 25.60 vs. IPXL: 16.10 )
IPXL' s 10-Year P/E(ttm) Range
Min: 4.04   Max: 1043
Current: 16.1

4.04
1043
P/B 2.05
IPXL's P/B is ranked higher than
72% of the 700 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.84 vs. IPXL: 2.05 )
IPXL' s 10-Year P/B Range
Min: 1.32   Max: 18.07
Current: 2.05

1.32
18.07
P/S 3.19
IPXL's P/S is ranked lower than
51% of the 722 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.99 vs. IPXL: 3.19 )
IPXL' s 10-Year P/S Range
Min: 1.17   Max: 19.49
Current: 3.19

1.17
19.49
PFCF 15.53
IPXL's PFCF is ranked higher than
84% of the 330 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 24.86 vs. IPXL: 15.53 )
IPXL' s 10-Year PFCF Range
Min: 2.31   Max: 39.03
Current: 15.53

2.31
39.03
PEG 3.93
IPXL's PEG is ranked higher than
56% of the 312 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.74 vs. IPXL: 3.93 )
IPXL' s 10-Year PEG Range
Min: 0.14   Max: 0.76
Current: 3.93

0.14
0.76
Shiller P/E 15.84
IPXL's Shiller P/E is ranked higher than
83% of the 362 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 25.59 vs. IPXL: 15.84 )
IPXL' s 10-Year Shiller P/E Range
Min: 10.23   Max: 61.99
Current: 15.84

10.23
61.99

Valuation & Return

vs
industry
vs
history
Price/Net Cash 7.36
IPXL's Price/Net Cash is ranked higher than
71% of the 214 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 13.10 vs. IPXL: 7.36 )
IPXL' s 10-Year Price/Net Cash Range
Min: 7.74   Max: 14.67
Current: 7.36

7.74
14.67
Price/Net Current Asset Value 4.80
IPXL's Price/Net Current Asset Value is ranked higher than
76% of the 310 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 9.80 vs. IPXL: 4.80 )
IPXL' s 10-Year Price/Net Current Asset Value Range
Min: 4.5   Max: 14.67
Current: 4.8

4.5
14.67
Price/Tangible Book 2.21
IPXL's Price/Tangible Book is ranked higher than
74% of the 629 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 4.10 vs. IPXL: 2.21 )
IPXL' s 10-Year Price/Tangible Book Range
Min: 2.27   Max: 57.3
Current: 2.21

2.27
57.3
Price/DCF (Projected) 1.47
IPXL's Price/DCF (Projected) is ranked higher than
76% of the 346 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.70 vs. IPXL: 1.47 )
IPXL' s 10-Year Price/DCF (Projected) Range
Min: 1.46   Max: 4.39
Current: 1.47

1.46
4.39
Price/Median PS Value 0.98
IPXL's Price/Median PS Value is ranked higher than
81% of the 665 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.10 vs. IPXL: 0.98 )
IPXL' s 10-Year Price/Median PS Value Range
Min: 0.46   Max: 25.85
Current: 0.98

0.46
25.85
Price/Peter Lynch Fair Value 0.66
IPXL's Price/Peter Lynch Fair Value is ranked higher than
90% of the 145 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.50 vs. IPXL: 0.66 )
IPXL' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.2   Max: 1.01
Current: 0.66

0.2
1.01
Price/Graham Number 1.27
IPXL's Price/Graham Number is ranked higher than
81% of the 461 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 2.20 vs. IPXL: 1.27 )
IPXL' s 10-Year Price/Graham Number Range
Min: 0.79   Max: 1.81
Current: 1.27

0.79
1.81
Earnings Yield (Greenblatt) 1.10
IPXL's Earnings Yield (Greenblatt) is ranked lower than
63% of the 595 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 4.80 vs. IPXL: 1.10 )
IPXL' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.2   Max: 55.9
Current: 1.1

0.2
55.9
Forward Rate of Return (Yacktman) 25.89
IPXL's Forward Rate of Return (Yacktman) is ranked higher than
92% of the 532 Companies
in the Global Drug Manufacturers - Specialty & Generic industry.

( Industry Median: 1.45 vs. IPXL: 25.89 )
IPXL' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -12.9   Max: 145.7
Current: 25.89

-12.9
145.7

Business Description

Industry: Drug Manufacturers » Drug Manufacturers - Specialty & Generic
Compare:TKPYY, TEVA, AGN, FRX, MRX » details
Traded in other countries:ILR.Germany
Impax Laboratories, Inc., a Delaware corporation was incorporated in 1995. It is a technology-based, specialty pharmaceutical company focused on the development and commercialization of bioequivalent and brand-name pharmaceuticals, utilizing its controlled-release and other in-house development and formulation expertise. Bioequivalent pharmaceuticals, commonly referred to as 'generics,' are the pharmaceutical and therapeutic equivalents of brand-name drug products and are usually marketed under its established nonproprietary drug names rather than by a brand name. Bioequivalent pharmaceuticals contain the same active ingredient and are of the same route of administration, dosage form, strength and indication(s) as brand-name pharmaceuticals already approved for use in the United States by the Food and Drug Administration ('FDA'). In the generic pharmaceuticals market, it focuses its efforts on controlled-release generic versions of selected brand-name pharmaceuticals covering a range of therapeutic areas and having technically challenging drug-delivery mechanisms or limited competition. In the brand-name pharmaceuticals market it develops products for the treatment of central nervous system disorders. The Company has two reportable segments namely 'Global Pharmaceuticals Division', ('Global Division') and the 'Impax Pharmaceuticals Division', ('Impax Division'). The Global Division develops, manufactures, sells, and distributes generic pharmaceutical products mainly through four sales channels: the 'Global products' sales channel, for generic pharmaceutical prescription products the Company sells directly to wholesalers, large retail drug chains, and others; the 'Private Label' sales channel, for generic pharmaceutical over-the-counter ('OTC') and prescription products the Company sells to unrelated third-party customers who in-turn sell the product to third parties under its own label; the 'Rx Partner' sales channel, for generic prescription products sold through unrelated third-party pharmaceutical entities under its own label pursuant to alliance agreements; and the 'OTC Partner' sales channel, for sales of generic pharmaceutical OTC products sold through unrelated third-party pharmaceutical entities under its own label pursuant to alliance agreements. The Company's Impax Division develops proprietary brand pharmaceutical products through improvements to already approved pharmaceutical products to address central nervous system ('CNS') disorders. The Impax Division is also engaged in the co-promotion through a direct sales force focused on marketing to physicians, mainly in the CNS community, pharmaceutical products developed by other unrelated third-party pharmaceutical entities. The Company markets and sells its generic pharmaceutical prescription drug products within the continental United States of America and the Commonwealth of Puerto Rico. The active chemical raw materials, essential to its business, are generally readi

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