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Caraco Pharmaceutical Laboratories, Ltd. Announces Change to Executive Team as G. P. Singh to Assume Position of CEO Effective November 1, 2010 and Update on Remediation Status
Date:10/8/2010

DETROIT, Oct. 8 /PRNewswire-FirstCall/ -- Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announced today that G. P. Singh Sachdeva will assume the position of Chief Executive Officer following the resignation of Jitendra N. Doshi as interim Chief Executive Officer and as a Director, effective November 1, 2010, due to personal and health-related reasons.

The Company wishes to thank Mr. Doshi for his many contributions during his years of service to the Company, including his recent efforts in achieving significant progress with respect to our remediation activities.  During the next few weeks, Mr. Doshi will assist the Company in effecting a smooth transition.

Mr. Singh, 42, has served as the Company's Chief Operating Officer since July 2010. He also served as Senior Vice President – Business Strategies of the Company from July 2007 to July 2010, as well as Vice President – Sales and Marketing from September 2003 to July 2007, and National Sales and Marketing Manager from September 2000 to September 2003. Mr. Singh has played a prominent and significant role in the Company's success since joining the Caraco team in 2000.  He will continue to be assisted by our talented team in working towards completion of our remediation efforts and resumption of operations.

After the Company's Annual Meeting of Shareholders, held on September 13, 2010, the Company received several questions from shareholders present which indicated a lack of clarity regarding the status of our remediation activities and the Company's expected rate of progress under the Consent Decree of Condemnation, Forfeiture and Permanent Injunction (the "Consent Decree") entered into with the FDA on September 29, 2009, (a complete text of which was previously disclosed to the public). As a result, the Company is providing this update on the remediation status.

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SOURCE Caraco Pharmaceutical Laboratories, Ltd.
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