March 9, 2016 / 11:29 AM / a year ago

BRIEF-Impax Labs to cut 213 jobs in restructuring to save $23-$27 mln

March 9 (Reuters) - Impax Laboratories Inc

* Board of directors of Impax Laboratories Inc approved a restructuring plan

* Plan does not impact company's research and development (research and development) activities at middlesex site

* Currently expects plan to achieve annualized cost savings of between $23 million to $27 million and to realize these savings beginning in 2017

* Currently expects that approximately $22 million to $25 million of such total charges will be incurred in 2016

* Plan involves closure of company's middlesex, new jersey manufacturing and packaging site

* Says plan involves related reduction in workforce of approximately 213 positions

* Sees will incur aggregate pre-tax charges in connection with plan of approximately $45 million to $53 million over next two years Source text: (1.usa.gov/21YV7cT) Further company coverage:

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