ABRX Able Laboratories (MM)

Able Laboratories, Inc. Announces Promotion of Iva Klemick to Vice President, Compliance CRANBURY, N.J., May 16 /PRNewswire-FirstCall/ -- Able Laboratories, Inc. (NASDAQ:ABRX) today announced the promotion of Iva Klemick, the Company's Director of Regulatory Affairs, to the newly-created position of Vice President, Compliance. Ms. Klemick will report directly to Able's President and Chief Operating Officer, Robert J. Mauro, and will lead the company's newly-created Compliance Group. (Logo: http://www.newscom.com/cgi-bin/prnh/20030721/ABLELOGO ) Ms. Klemick joined the Company in 1999, bringing over 25 years of experience in all areas of pharmaceutical operations including manufacturing, materials management, quality assurance, quality control and regulatory affairs. Prior to joining Able, she held corporate director positions at Zenith Laboratories for over eight years. In her new role, Ms. Klemick will act as Able's liaison with the FDA and other regulatory agencies, and will have primary responsibility for maintaining compliance with local, state and federal regulatory requirements. Her first undertaking, already underway, will be to lead the company's ongoing comprehensive review of its operations. Able has also retained the services of a highly reputable outside consulting firm to assist in this initiative. Jay Wadekar, Able's Chairman and Chief Executive Officer, stated: "Along with the accelerated pace of our growth in operations over the past two years comes the challenge of effectively managing our growth. In light of the recent recalls, we determined that we should perform a comprehensive review of our systems. Iva is well qualified to lead our efforts to review our current practices, identify and address any issues, and work proactively with our outside consultants and the FDA. "We are pleased to announce this investment in the quality of our compliance efforts and I am confident that Iva will provide excellent leadership to the Compliance Group. The combination of her years of industry experience and her tenure with Able are attributes from which we expect to benefit significantly." About Able Laboratories, Inc. Able Laboratories is a developer and manufacturer of generic pharmaceuticals. Further information on Able may be found on the Company's web site, http://www.ablelabs.com/. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Able Laboratories, Inc., are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties. For example, statements about the Company's management team, its ability to meet all applicable federal, state and local regulatory requirements and the effect of any failure to do so, the expected effects of the Company's expansion of its production facilities, its ability to formulate and bring to market its drug products under development, its ability to increase sales and profits and manage its growth, the current or expected market size for the Company's products, the adequacy of the Company's manufacturing capacity, the availability of sufficient capital, the success of current or future product offerings, research and development efforts and the Company's ability to file for and obtain U.S. Food and Drug Administration approvals for future products, are forward-looking statements. Forward- looking statements are merely the Company's current predictions of future events, the statements are inherently uncertain, and actual results could differ materially from the statements made herein. There is no assurance that the Company will continue to achieve the sales levels necessary to make its operations profitable or that its ANDA filings and approvals will be completed and obtained as anticipated. For a description of additional risks, and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2004 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2005. The Company assumes no obligation to update its forward-looking statements to reflect new information and developments. Company Contacts: Jay Wadekar, Chairman & CEO Nitin Kotak, Vice President, Finance and Accounting (609) 495-2800 Investor Contact: Investor Relations (609) 495-2805 Email: http://www.newscom.com/cgi-bin/prnh/20030721/ABLELOGODATASOURCE: Able Laboratories, Inc. CONTACT: Company Contacts: Jay Wadekar, Chairman & CEO, or Nitin Kotak, Vice President, Finance and Accounting, both of Able Laboratories, Inc., +1-609-495-2800; or Investor Contact: Investor Relations, +1-609-495-2805, , for Able Laboratories, Inc. Web site: http://www.ablelabs.com/

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