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|June 27, 2001 11:32 a.m.|
|Impax and Teva Announce Strategic Alliance for Generic Controlled Release Products|
Hayward ,Calif. and Jerusalem, Israel, June 27, 2001 - IMPAX Laboratories, Inc.(Nasdaq: IPXL) and Teva Pharmaceutical Industries Ltd.(Nasdaq:TEVA) today announced that IMPAX and a subsidiary of Teva have entered into a strategic alliance agreement for twelve controlled release generic pharmaceutical products. UBS Warburg LLC acted as an advisor to IMPAX in this transaction.