Caraco Pharmaceutical Laboratories Ltd. Reports Record Net Sales for the Second Quarter and First Six Months of F...( DETROIT Oct. 24 /- Caraco Pharmac...),Health

DETROIT, Oct. 24 /PRNewswire-FirstCall/ -- Caraco Pharmaceutical Laboratories, Ltd. (Amex: CPD) posted record net sales for the second quarter and first six months of fiscal 2008, ended September 30, 2007, of $41.4 million and $76.8 million, respectively, as compared to $28.3 million and $53.0 million for the corresponding periods of fiscal 2007. This represents an increase of 46% and 45% over second quarter and first six months of fiscal 2007, respectively. Net income grew to $4.6 million and $13.1 million in the second quarter and first six months of fiscal 2008, respectively, as compared to a net income of $2.3 million and $7.3 million during the corresponding periods of fiscal 2007.

Daniel H. Movens, Caraco's Chief Executive Officer, said, "We are pleased to announce record net sales for the second quarter and first six months of fiscal 2008. We continue to see our business flourish under the leadership and guidance of our management and the absolute effort of the entire team at Caraco. Our continued focus on executing Caraco's business plan is a major factor in the Company's success. We continue to experience significant growth highlighted by record sales and additional product approvals. We have received seven FDA product approvals in addition to four FDA tentative approvals, year- to-date fiscal 2008. Again, the products of Sun Pharmaceutical Industries Limited ("Sun Pharma"), under our marketing agreement, contributed to our growth along with newer products launched during second quarter of fiscal 2008. We continue to fill gaps in our product pipeline by diligently working to utilize various paths of development."

Second Quarter and First Six Months Fiscal 2008 Results

Net sales for the second
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