On January 10, 2013, Impax Laboratories, Inc. (the "Company") and certain of its subsidiaries entered into an amendment (the "Amendment") to the Credit Agreement dated as of February 11, 2011, as amended to date (the "Credit Agreement"), with Wells Fargo Bank, National Association, as lender and administrative agent. The Amendment amends, among other items, the Fixed Charge Coverage Ratio definition in the Credit Agreement to exclude from the ratio calculation (i) for each of the four consecutive fiscal quarter periods ending on December 31, 2012, March 31, 2013 and June 30, 2013, an amount not to exceed $25.0 million in the aggregate in non-recurring income taxes to the extent paid by the Company or its subsidiaries and (ii) for each of the four consecutive fiscal quarter periods ending on December 31, 2012, March 31, 2013 and June 30, 2013 and September 30, 2013, the amount of Consolidated Capital Expenditures (as defined in the Credit Agreement) made by the Company's wholly owned subsidiary, Impax Laboratories (Taiwan), Inc., in an amount not to exceed $74.0 million in the aggregate.

The foregoing is a summary description of the terms and conditions of the Amendment and is qualified in its entirety by the text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

(d) Exhibits.

The following exhibit is filed herewith.

Exhibit No.   Description
              Second Amendment to Credit Agreement dated as of January 10, 2013 to the
              Credit Agreement, dated as of February 11, 2011, as amended, by and
   10.1       among Impax Laboratories, Inc., the Guarantors named therein, the
              Lenders named therein and Wells Fargo Bank, National Association, as
              Administrative Agent.