Impax smacked after FDA inspection

|About: Impax Laboratories, Inc. (IPXL)|By:, SA News Editor

Shares of Impax Laboratories (IPXL -14.6%) plunge on a 7x surge in volume after an FDA inspection of its Taiwan manufacturing facility. The site makes 12 products for U.S. distribution and will produce Ryatary, the firm's drug candidate for Parkinson's disease.

The inspection notes contain numerous references to GMP violations. Investors perceive that the deficiencies could jeopardize the company's product supply.