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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Jim Bishop who started this subject6/22/2001 10:41:07 AM
From: MBS  Read Replies (1) of 150070
 
ABRX
SOUTH PLAINFIELD, N.J., Jun 22, 2001 (BUSINESS WIRE) -- Able Laboratories, Inc.
(OTCBB:ABRX) today announced it has received Food and Drug Administration (FDA)
approval of its Abbreviated New Drug Application (ANDA) for Carisoprodol Tablets
USP 350 mg. The approval followed the FDA's Division of Bioequivalence's
determination that Able's Carisoprodol Tablets USP, 350 mg. are bioequivalent
and, therefore, therapeutically equivalent to the Soma(R) 350 mg Tablets of
Wallace Laboratories. The generic market for Able's newly approved drug, mainly
used as a muscle relaxant and for muscle spasms, is estimated to be $260 million
by IMS Data. Able filed its ANDA for Carisoprodol Tablets USP, 350 mg. in
October 2000.

"This is the fourth FDA approval we have received in the last six months,"
stated C. Robert Cusick, Chairman and Chief Executive Officer of Able
Laboratories, Inc. "These approvals and our other eleven pending FDA filings are
the result of the Research and Development (R&D) investments we have made over
the last two to three years. We have not stopped our R&D efforts. We will
continue to have a consistent flow of new products over the quarters and years
to come."
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