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Caraco Pharmaceutical Laboratories, Ltd. Announces an Indefinite Reduction in its Workforce
Date:7/6/2009

DETROIT, July 6 /PRNewswire-FirstCall/ -- Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD), announced today that it is in the process of instituting an indefinite reduction in its workforce of approximately 350 employees in order to align its expenses with the current voluntary cessation of its manufacturing operations in connection with the recent action by the United States Food and Drug Administration (the "FDA"). The timing of the resumption of manufacturing operations, in whole or in part, depends on the outcome of discussions with the FDA. This should have no effect on distributed product sales that we market in the US. The Company may recall some employees to assist us in any remedial action plan that is developed based on such discussions.

Additionally, the Company announced that it has been informed by JPMorgan Chase Bank, N.A. that its $10 million line of credit, of which there is a zero balance, is not available to be drawn down upon until the FDA matter is resolved. This does not have any material impact on the Company's current financial position.

Manufactured product sales have represented approximately one-third of the Company's net sales revenue. For Fiscal 2009, net sales of manufactured products and of distributed products were $111.8 million and $225.4 million, respectively. We anticipate working with the FDA for resolution as expeditiously and effectively as possible. We fully expect to emerge as a stronger company while providing quality products to our customers.

Detroit-based Caraco Pharmaceutical Laboratories, Ltd., develops, manufactures, markets and distributes generic and private-label pharmaceuticals to the nation's largest wholesalers, distributors, drugstore chains and managed care providers.

Safe Harbor: This news release contains forward-looking statements
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SOURCE Caraco Pharmaceutical Laboratories, Ltd.
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