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January 31, 2011
Caraco reports quarterly earnings

Caraco Pharmaceutical Labs had sales of $40.4 million during the third quarter of fiscal year 2011, and $268.2 million during the first nine months of the fiscal year, the company said in an earnings report released Sunday.

DETROIT — Caraco Pharmaceutical Labs had sales of $40.4 million during the third quarter of fiscal year 2011, and $268.2 million during the first nine months of the fiscal year, the company said in an earnings report released Sunday.

Caraco, whose fiscal year 2011 ended Dec. 31, 2010, said that it included sales of products that it owns and products that it distributes in the figures. The latest numbers compared with $52 million in the third quarter of fiscal 2010 and $178.4 million during the first nine months of fiscal year 2010.

January 10, 2011
Harvard Drug CEO retires, AmerisourceBergen executive steps in

A leading wholesale distributor of prescription and over-the-counter pharmaceuticals announced the retirement of its CEO.

DETROIT — A leading wholesale distributor of prescription and over-the-counter pharmaceuticals announced the retirement of its CEO.

Harvard Drug said that Randolph "Randy" Friedman will retire after leading the business for 23 years. Terrance Haas, an industry veteran who most recently served as AmerisourceBergen president and board member of the Healthcare Distribution Management Association will be Harvard Drug's new chief executive.

December 6, 2010
Sun seeks to acquire Caraco

An India-based drug maker is looking to acquire all outstanding shares of another generic drug manufacturer based in the United States.

DETROIT — An India-based drug maker is looking to acquire all outstanding shares of another generic drug manufacturer based in the United States.

Caraco said it received and will discuss the proposal from Sun Pharma, by which Sun would acquire all outstanding shares of common stock it doesn't already own.

The $4.75-per-share cash transaction represents a 5% premium over the closing price of Caraco common stock on Dec. 2, Caraco said.

October 11, 2010
New CEO steps in at Caraco

Generic drug maker Caraco said that its interim CEO and director, Jitendra Doshi, will step...

DETROIT Generic drug maker Caraco said that its interim CEO and director, Jitendra Doshi, will step down from his position Nov. 1 due to personal and health-related reasons.

While Doshi will assist the company in effecting a smooth transition, G. P. Singh will assume the position of CEO, Caraco said. Singh currently serves as Caraco's COO, and previously was SVP business strategies for three years.

September 15, 2010
Caraco adds new member to board

Caraco Pharmaceutical Labs has appointed a new member to its board of directors....

DETROIT Caraco Pharmaceutical Labs has appointed a new member to its board of directors.

 

The generic drug maker announced Wednesday the appointment of former KPMG accountant Eddie Munson to its board of directors.

 

 

Munson, who served in various positions for KPMG, will serve on Caraco’s board of directors for a term ending at the 2011 annual meeting of shareholders.

 

September 13, 2010
Rexam's Pill Timer seeks to improve medication adherence

Rexam is marketing a programmable pill timer that fits on its prescription vials that was...

PERRYSBURG, Ohio Rexam is marketing a programmable pill timer that fits on its prescription vials that was developed under a partnership with Med Time Technology.

 

The two companies announced Tuesday the introduction of the Pill Timer, which uses software that can be programmed with audio and visual alerts to help people properly take their prescription medications. The Detroit-based Henry Ford Health System is one of the first healthcare organizations to adopt the product.

 

 

July 20, 2010
Caraco launches generic Wellbutrin SR

Generic drug maker Caraco Pharmaceutical Labs has launched a generic antidepressant, Caraco said Wednesday....

DETROIT Generic drug maker Caraco Pharmaceutical Labs has launched a generic antidepressant, Caraco said Wednesday.

 

The drug maker announced the launch of bupropion hydrochloride extended-release tablets in the 150 mg and 200 mg strengths.

 

 

The drug is a generic version of GlaxoSmithKline’s Wellbutrin SR. Various versions of the drug have annual sales of $300 million, according to Caraco.

 

July 7, 2010
Local e-prescribing initiative awarded for technology innovation

In honor of its dedication to driving the adoption of e-prescribing technology in Michigan, the...

DETROIT In honor of its dedication to driving the adoption of e-prescribing technology in Michigan, the Southeast Michigan ePrescribing Initiative was presented with the 2010 Health Information Technology Innovation Leadership Award at the first annual Michigan HIT Leadership and Innovation Awards reception.

March 28, 2010
NBA Cares takes vaccination awareness program to Detroit

The charitable arm of the NBA is expanding its education program about adolescent vaccinations to...