Impax Laboratories slid after saying Food and Drug Administration inspectors have found continuing problems at its Hayward, Calif.

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Bruce Jenkyn-Jones and Ian Simm at Impax Asset Management run the three-year-old Impax Environmental Markets fund, a closed-end fund with 41 million pounds in assets.

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The fund, Impax New Energy Investors II, targets EU renewable energy projects, such as wind and solar companies, which expect to have positive cashflows within a year.

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This action, reported here at Forbes.com by David Maris, followed four to five years of consumer complaints about this generic version manufactured for Teva Pharmaceuticals by Impax Laboratories.

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The FDA approved generic versions of both dosage strengths from a few generic drug companies: Teva Pharmaceuticals (manufactured by Impax Laboratories and marketed by Teva Pharmaceuticals), Anchen, Actavis, Watson Pharmaceuticals and Mylan Pharmaceuticals.

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