#impax laboratories

Analyst Activity – Janney Montgomery Scott Initiates Coverage On Impax Laboratories (NASDAQ:IPXL) With a Neutral

Analyst Ratings For Impax Laboratories (NASDAQ:IPXL) Today, Janney Montgomery Scott initiated coverage on Impax Laboratories (NASDAQ:IPXL) with a Neutral with a price target of $15.00. There are 1 sell rating, 11 hold ratings, 4 buy ratings on the stock. The current consensus rating on Impax Laboratories (NASDAQ:IPXL) is Hold (Score: 2.19) with a consensus target price of $27.50 per share, a…

Analyst Activity – Deutsche Bank AG Reiterates Hold on Impax Laboratories (NASDAQ:IPXL)

Analyst Ratings For Impax Laboratories (NASDAQ:IPXL) Today, Deutsche Bank AG reiterated its Hold rating on Impax Laboratories (NASDAQ:IPXL) with a price target of $17.00. There are 1 sell rating, 10 hold ratings, 4 buy ratings on the stock. The current consensus rating on Impax Laboratories (NASDAQ:IPXL) is Hold (Score: 2.20) with a consensus target price of $28.46 per share, a potential 106.24%…

(by David Crow)

A US drugmaker has put a price tag of more than $800 on a pinworm treatment — 200 times more expensive than the equivalent medicine on British pharmacy shelves, in the latest example of price gouging in the world’s largest healthcare market.

Impax Laboratories started selling mebendazole this year at an average wholesale price of $442 per pill, according to figures seen by the Financial Times, which were checked with several US pharmacy chains including Walgreens and CVS.

Most cases of pinworm, a parasitic infection also known as threadworm, require two pills, meaning a course of treatment costs about $884. The drug is available prescription-only in the US but can be bought over the counter in the UK, where Boots, a British chemist chain, charges £6.99 for a pack of four pills, or £1.75 each. (note: £1.75 = $2.16 USD = $2.08 EURO, approximately)

The pinworm parasite, which is common in children, affects 200 million people a year worldwide and up to 40 million in the US. It is recommended that family members are treated for the highly contagious infection at the same time, meaning a household of five’s treatment costs more than $4,400.

Mebendazole was first used to treat pinworm and other parasitic infections in the 1970s and is on the World Health Organisation’s list of essential medicines. In the developing world it can be bought for less than 1 cent per pill.

Impax Laboratories Inc said it cut about 110 jobs, or 10 percent of its workforce, mainly in its Hayward, California plant, more than four months after U.S. health regulators denied approval to the company’s Parkinson’s drug citing concerns about the…