UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549

FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MAY 27, 2004
IMPAX LABORATORIES, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

          DELAWARE                    0-27354             65-0403311
-------------------------------  ------------------  ----------------------
(STATE OR OTHER JURISDICTION OF     (COMMISSION        (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)      FILE NUMBER)     IDENTIFICATION NUMBER)	

30381 HUNTWOOD AVENUE
 HAYWARD, CA 94544
 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (510) 476-2000
 
ITEM 9. REGULATION FD DISCLOSURE
On May 27, 2004, Impax Laboratories, Inc. (the "Company") issued a press release announcing that the U.S. Food and Drug Administration granted final approval to the Company's Abbreviated New Drug Application for Bupropion Hydrochloride 150 mg Controlled Release Tablets, its generic version of Zyban(R). A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
 
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Impax Laboratories, Inc.

Date: May 27, 2004
                                             By: /s/ Barry R. Edwards
                                                 ----------------------------
                                                 Barry R. Edwards
                                                 Chief Executive Officer	

Exhibit 99.1
IMPAX
LABORATORIES, INC.
COMPANY CONTACTS: INVESTOR RELATIONS CONTACTS:

IMPAX Laboratories, Inc.                Lippert/Heilshorn & Associates, Inc.
------------------------                ------------------------------------
Barry R. Edwards, CEO                   Kim Sutton Golodetz (kgolodetz@lhai.com)
(215) 933-0323 Ext. 4360                (212) 838-3777
Larry Hsu, Ph.D. President              Bruce Voss (bvoss@lhai.com)
(510) 476-2000 Ext. 1111                (310) 691-7100
Cornel C. Spiegler, CFO                 www.lhai.com
(215) 289-2220 Ext. 1706                ------------
www.impaxlabs.com
-----------------	

IMPAX RECEIVES FINAL FDA APPROVAL
FOR GENERIC VERSION OF ZYBAN(R)
SEVENTH ANDA APPROVAL IN 2004
HAYWARD, CALIF. (MAY 27, 2004) - IMPAX LABORATORIES, INC. (NASDAQ NM: IPXL) announced that the U.S. Food and Drug Administration (FDA) has granted final marketing approval to the Company's Abbreviated New Drug Application (ANDA) for its generic version of Zyban(R), Bupropion Hydrochloride 150 mg Controlled Release Tablets. GlaxoSmithKline (NYSE: GSK) markets Zyban for smoking cessation. According to NDCHealth, U.S. sales of Zyban were approximately $63 million in the twelve months ended March 31, 2004.
"We are pleased to have received this, our seventh ANDA approval this year," said Larry Hsu, Ph.D. IMPAX Laboratories, Inc. President.
IMPAX currently has 15 applications pending at the FDA, including five tentatively approved, which address approximately $5.3 billion in U.S. product sales for the twelve months ended March 31, 2004, based on NDCHealth data. Twelve of these filings were made under Paragraph IV of the Hatch-Waxman Amendments.
IMPAX Laboratories, Inc. is a technology based specialty pharmaceutical company applying its formulation expertise and drug delivery technology to the development of controlled-release and specialty generics in addition to the development of branded products. IMPAX markets its generic products through its Global Pharmaceuticals division and intends to market its branded products through the IMPAX Pharmaceuticals division. Additionally, where strategically appropriate, IMPAX has developed marketing partnerships to fully leverage its technology platform. IMPAX Laboratories is headquartered in Hayward, California, and has a full range of capabilities in its Hayward and Philadelphia facilities. For more information, please visit the Company's Web site at: www.impaxlabs.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
To the extent any statements made in this news release contain information that is not historical, these statements are forward-looking in nature and express the beliefs and expectations of management. Such statements are based on current
expectations and involve a number of known and unknown risks and uncertainties that could cause Impax's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, Impax's ability to obtain sufficient capital to fund its operations, the difficulty of predicting FDA filings and approvals, consumer acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, Impax's ability to successfully develop and commercialize pharmaceutical products, Impax's reliance on key strategic alliances, the uncertainty of patent litigation, the availability of raw materials, the regulatory environment, dependence on patent and other protection for innovative products, exposure to product liability claims, fluctuations in operating results and other risks detailed from time to time in Impax's filings with the Securities and Exchange Commission. Forward-looking statements speak only as to the date on which they are made, and Impax undertakes no obligation to update publicly or revise any forward-looking statement, regardless of whether new information becomes available, future developments occur or otherwise.
# # #