Why Impax Laboratories Inc Jumped Higher Today

Impax Laboratories (NASDAQ: IPXL) is up 7.6% at 11:53 a.m. EDT, having been up as much as 17.9% earlier today, after reporting solid second-quarter earnings.

Revenue from the drugmaker was up 17% year over year, boosted by a 24% jump in sales of generic drugs. The division was helped by new generic drugs acquired from Teva Pharmaceutical and the launch of generic Vytorin, as well as growth in sales of Impax's epinephrine auto-injector.

Sales in the specialty pharma division were basically flat, up just 0.6% year over year. The company had a temporary supply disruption of Albenza during the quarter, although that was made up for by sales of Rytary, which increased 27% year over year.

Source: Fool.com