Sec Form 5/A Filing - HSIAO CHARLES @ IMPAX LABORATORIES INC - 2006-12-31

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person HSIAO CHARLES 2. Issuer Name and Ticker or Trading Symbol IMPAX LABORATORIES INC [ IPXL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 30831 HUNTWOOD AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 12/31/2006 (Street) HAYWORD, CA94544 4. If Amendment, Date Original Filed (MM/DD/YY) 02/14/2007 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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) Code V Amount (A) or (D) Price Common Stock 3,471 D Common Stock 3,531,605 ( 1 ) I Charles & Pamela Hsiao TTEES 2004 Hsiao Family Trust

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Option to buy Common Stock $ 0.824 04/02/2000( 2 ) 04/02/2009 Common Stock 333,580 333,580 D Common Stock $ 5 12/22/2001( 3 ) 12/22/2010 Common Stock 60,800 60,800 D Option to buy Common Stock $ 6.72 03/08/2003( 4 ) 03/08/2012 Common Stock 100,000 100,000 D Option to buy Common Stock $ 3.04 03/10/2004( 5 ) 03/10/2013 Common Stock 75,000 75,000 D Option to buy Common Stock $ 23.05 04/14/2005( 6 ) 04/14/2014 Common Stock 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other HSIAO CHARLES 30831 HUNTWOOD AVENUE HAYWORD, CA94544 X Signatures /s/ Charles Hsiao 02/14/2007 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Does not include 2,601,924 shares of common stock held in the Chiin Hsiao Children Irrevocable Trust, as to which shares Dr. Hsiao does not voting or dispositive power ( 2 )Can be exercised immediately; 100% vested ( 3 )Can be exercised immediately; 100% vested ( 4 )Fully Vested as of 3/8/2006 ( 5 )Vesting over 4 years from date of grant (03/10/03) in equal installments of 25% annually ( 6 )Cancelled 09/11/2006

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).

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