Navigation Links
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
'/>"/>

SOURCE Caraco Pharmaceutical Laboratories, Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2

Related medicine news :

1. Caraco Pharmaceutical Laboratories, Ltd. Updates on Financial Position
2. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Action
3. Caraco Pharmaceutical Laboratories, Ltd. Reports Results for the Fiscal Year 2009, Updates on FDA Inspection
4. Caraco Pharmaceutical Laboratories, Ltd. Markets Generic Roxicodone(R) Tablets
5. Caraco Pharmaceutical Laboratories, Ltd. Markets Generic Topamax(R) Tablets
6. Caraco Pharmaceutical Laboratories, Ltd. Announces a Nationwide Voluntary Recall of All Lots of Digoxin Tablets Due to Size Variability
7. Caraco Pharmaceutical Laboratories, Ltd. Reports Results for the Third Quarter and First Nine Months of Fiscal 2009
8. Caraco Pharmaceutical Laboratories, Ltd. to Announce Third Quarter of Fiscal Year 2009 Results on January 29, 2009
9. Caraco Pharmaceutical Laboratories, Ltd. Responds to FDA Warning Letter
10. Caraco Pharmaceutical Laboratories, Ltd. Update on FDA Warning Letter
11. Caraco Pharmaceutical Laboratories, Ltd. to Market Generic Sinemet(R) Tablets
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/12/2014)... News) -- Burn injuries increase in the summer as people ... experts. Among those most vulnerable to these seasonal fire hazards: ... often get burned by putting their hands on the side ... burn unit at Loyola University Medical Center in Maywood, Ill., ... of ,When you play with fire, you get burned, is ...
(Date:7/12/2014)... Lindsay, ON Canada (PRWEB) July 12, 2014 Sean ... known for throwing out special challenges to his clients. He’s also ... Girls Club. He recently found a way to combine the two ... has raised $2,000 for the Boys and Girls Club. , ... Loss Program, which started on June 23rd. Francis sent out emails ...
(Date:7/12/2014)... Using and carrying around a catheter ... from Ashland, Va., decided that there needed to be ... to conceive of our design," he said. , They ... which provides an inconspicuous way to use and carry ... as promotes comfort and peace of mind. Producible in ...
(Date:7/12/2014)... With prom shopping reaching its final days, VogueQueen.com, ... to showcase its new and trendy apparels. Recently, the ... in its online shop. Additionally, it is now providing ... gowns. According to the company’s sales manager, the promotion ... , He says, “Now, worldwide clients can order ...
(Date:7/12/2014)... Wright & Schulte LLC has filed a DePuy ... of Johnson & Johnson, on behalf of an Ohio man ... metal-on-metal DePuy Pinnacle hip replacement and had to undergo revision ... The DePuy hip lawsuit was filed July 7, 2014, in ... 3:14-cv-2427) where DePuy Pinnacle Hip lawsuit litigation is underway ...
Breaking Medicine News(10 mins):Health News:Burn Injuries More Common in Summer 2Health News:Kawartha Lakes Fit Body Boot Camp’s Successful Fat Loss Challenge Results in $2,000 to Boys and Girls Club 2Health News:Kawartha Lakes Fit Body Boot Camp’s Successful Fat Loss Challenge Results in $2,000 to Boys and Girls Club 3Health News:VogueQueen.com Updates Its Summer Collection With New And Trendy Evening Dresses 2Health News:DePuy Pinnacle Hip Lawsuit Filed By Wright & Schulte LLC On Behalf of Ohio Man Who Required Revision Surgery Purportedly From Defective Hip Implant 2Health News:DePuy Pinnacle Hip Lawsuit Filed By Wright & Schulte LLC On Behalf of Ohio Man Who Required Revision Surgery Purportedly From Defective Hip Implant 3Health News:DePuy Pinnacle Hip Lawsuit Filed By Wright & Schulte LLC On Behalf of Ohio Man Who Required Revision Surgery Purportedly From Defective Hip Implant 4Health News:DePuy Pinnacle Hip Lawsuit Filed By Wright & Schulte LLC On Behalf of Ohio Man Who Required Revision Surgery Purportedly From Defective Hip Implant 5
... people who get lots of vitamin E in their ... those who take in relatively little. Researchers once had high ... important safeguard against heart attacks. But that idea eventually faded ... some think the vitamin may protect against cancer perhaps by ...
... prostate cancer would rather find out sooner than later if ... cancer using the prostate-specific antigen test. But since PSA levels normally ... to know what a high reading is and what may just ... have to undergo repeated biopsies to determine whether they have cancer ...
... a recent study done on rats has shed light on ... brain cell in a rat can make its whiskers twitch, ... controls movement. Eventually this could help scientists develop devices paralyzed ... researchers say they thought that because the part of the ...
... ( an evolution specialist ), helped China's SARS Epidemiology ... fingerprinted virus samples from several dozen infected people and ... provides more evidence that SARS jumps from animals to ... of new cases is crucial, before viral strains have ...
... study shows there may be reason to believe we have ... brain may block unwanted memories. ,Researchers from Stanford University ... were given 36 pairs of unrelated words and asked to ... word pairs into three sets of 12. Participants were asked ...
... research presented at the annual meeting of the Radiological ... accurately detect small cancers and stones in the kidneys, ... ,Multi Detector CT Urography ( MDCTU ) scans can ... through the body from different angles. Patients are given ...
Cached Medicine News:Health News:Vitamin E Found To reduce bladder cancer risk 2Health News:Scientists Have Traced How The SARS Virus evolved 2Health News:CT Scans Said to Accurately Detect Small Cancers 2
(Date:7/11/2014)... DALLAS , July 11, 2014 ... report "Scintillator Market by Composition of Material, Application ... and others), End Product (Personal Instrument, Hand-Held Instruments, ... Forecast and Analysis to 2013 - 2020", published by MarketsandMarkets, ... a CAGR of 5.62% from 2014 to 2020, ...
(Date:7/11/2014)... On Thursday, July 10, ... Dow Jones Industrial Average finished the day 0.42% lower at ... The losses were broad based as eight out of ten ... Care Sector Index ended the day at 711.88, down 0.02%, ... month. Investor-Edge has initiated coverage on the following equities: Covidien ...
(Date:7/11/2014)... LONDON , July 11, 2014 /PRNewswire/ ... of visitors to Safety & Health Expo ... by the move to London ... senior management attending exhibition.     ... (Photo: http://photos.prnewswire.com/prnh/20140711/696892-a ) ...
Breaking Medicine Technology:Scintillator Market will be worth $479.16 Million by 2020 2Scintillator Market will be worth $479.16 Million by 2020 3Scintillator Market will be worth $479.16 Million by 2020 4Health Care Equipment Equities Movers and Shakers -- Research on Covidien, Baxter, DexCom, and Boston Scientific 2Health Care Equipment Equities Movers and Shakers -- Research on Covidien, Baxter, DexCom, and Boston Scientific 3Health Care Equipment Equities Movers and Shakers -- Research on Covidien, Baxter, DexCom, and Boston Scientific 4UK's Flagship Health & Safety Event Has Successful Inaugural Year in London 2UK's Flagship Health & Safety Event Has Successful Inaugural Year in London 3UK's Flagship Health & Safety Event Has Successful Inaugural Year in London 4
... /PRNewswire/ -- Ethicon Endo-Surgery, Inc. today announced ... IDE feasibility trial. The case, which was performed at ... Invasive Surgery, marks the first natural orifice translumenal endoscopic ... NOTES is a surgical method in which external incisions ...
... 9 Approximately ninety-one percent of dentists say patients complaining ... nationwide member survey conducted by the Academy of General Dentistry ... by a decrease in salivary function. It affects approximately ... people at risk for tooth decay. During the Academy of ...
Cached Medicine Technology:First Patient of NOTES Investigational Device Exemption (IDE) Study Successfully Treated With Ethicon Endo-Surgery Devices 2First Patient of NOTES Investigational Device Exemption (IDE) Study Successfully Treated With Ethicon Endo-Surgery Devices 3Dry Mouth Linked to Prescription and Over the Counter Drugs 2Dry Mouth Linked to Prescription and Over the Counter Drugs 3
... specifically designed for monitoring the performance ... for separation and quantification of cholesterol ... in patient serum samples. Liposure is ... and A (IDL), LDL subfractions, HDL ...
... The Lipoprint System is a high resolution diagnostic ... tested by other methods. The test procedure is ... three hours. Any abnormal value is clearly flagged. ... highly atherogenic, small dense LDL in red and ...
... the only control for monitoring ... synovial fluid samples performed manually ... also an aid for identifying ... a pathological condition present in ...
... Suitable for use with ... BR2 bilirubinometers (pediatric) and all ... instruments including Aeroset, AU Series, ... Vitros. These controls contain purified ...
Medicine Products: