SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

CHU MAY

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
IMPAX LABORATORIES INC [ IPXL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior VP Quality Affairs

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Purchase of common stock through ESPP	09/01/2004	09/01/2004	P		159	A	$12.58	61,363	D
Common stock								83,027	I	Owned by husband, John Chu

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option to purchase common stock	$0.75	09/09/1996	09/09/1996	A		13,373		09/09/1997	09/09/2006	Common stock	13,373	$0.75	13,373	D
Optio to purchase common stock	$0.75	04/02/1999	04/02/1999	A		46,716		04/02/2000	04/02/2009	Common stock	46,716	$0.75	46,716	D
Option to purchase common stock	$5.25	08/01/2000	08/01/2000	A		16,000		08/01/2001	08/01/2010	Common stock	16,000	$5.25	16,000	D
Option to buy common stock	$5.625	12/19/2000	12/19/2000	A		15,000		12/19/2001	12/19/2010	Common stock	15,000	$5.625	15,000	D
Option to purchase common stock	$6.72	03/08/2002	03/08/2002	A		30,000		03/08/2003	03/08/2012	Common stock	30,000	$6.72	30,000	D
Option to purchase common stock	$3.04	03/10/2003	04/04/2003⁽¹⁾	A		20,000		03/10/2004	03/10/2013	Common stock	20,000	$3.04	20,000	D
Option to purchase common stock	$23.05	04/14/2004	04/20/2004⁽²⁾	A		25,000		04/14/2005	04/14/2014	Common stock	25,000	$23.05	25,000	D
Option to purchase common stock	$20.78	06/25/2004	06/28/2004⁽³⁾	A		10,000		06/25/2005	06/25/2014	Common stock	10,000	$20.78	10,000	D
Option granted John Chu to purchase common stock	$5.25	08/01/2000	08/01/2000	A		20,000		08/01/2001	08/01/2010	Common stock	20,000	$5.25	20,000	I	Options granted to husband, John Chu
Option granted John Chu to purchase common stock	$5.625	12/19/2000	12/19/2000	A		20,000		12/19/2001	12/19/2010	Common stock	20,000	$5.625	20,000	I	Options granted to husband, John Chu
Options granted John Chu to purchase common stock	$6.72	03/08/2002	03/08/2002	A		20,000		03/08/2003	03/08/2012	Common stock	20,000	$6.72	20,000	I	Options granted to husband, John Chu
Options granted John Chu to purchase common stock	$3.04	03/10/2003	04/04/2003⁽⁴⁾	A		25,000		03/10/2004	03/10/2013	Common stock	25,000	$3.04	25,000	I	Options granted to husband, John Chu
Options granted John Chu to purchase common stock	$22.15	05/29/2004	06/01/2004⁽⁵⁾	A		6,000		05/29/2005	05/29/2014	Common stock	6,000	$22.15	6,000	I	Options granted to husband, John Chu

Explanation of Responses:

1. Date recipient notified.

2. Date recipient notified.

3. Date recipient notified.

4. Date recipient notified.

5. Date recipient notified.

	May Chu	09/02/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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