Piper Jaffray Comments On Impax Estimates

According to Piper Jaffray, Impax Laboratories IPXL recently commented that the trial date regarding its supply dispute with Shire on Adderall XR (AXR) has been set for January 9, 2012. Piper Jaffray said that though the date is later that management's previous target of June to September 2011, we believe the date nonetheless provides greater visibility on a timeline to resolution. “Further, we believe that the recent negative press surrounding shortages of generic AXR in retail pharmacies (called out by a U.S. Senator) provides greater momentum for Shire to bring this dispute to a conclusion. We continue to believe that IPXL is on the cusp of transformational EPS growth starting in 2012, with the launch of IPX066 in Parkinson's and a deep generics pipeline bearing fruit. IPXL remains one of our top specialty pharma picks. We reiterate our Overweight rating and $33 price target.” Impax Laboratories closed yesterday at $27.21.