Caraco board to discuss Sun Pharma proposal

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Dec 7 2010

Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) reports receipt of a proposal from Sun Pharmaceutical Industries Ltd. ("Sun") and Sun Pharma Global, Inc ("Sun Global") for a going private transaction by which Sun, Sun Global, and/or one or more of their affiliates would acquire all of the outstanding shares of Caraco common stock not held by Sun or Sun Global for a per share consideration of $4.75 in cash. This represents a 5% premium over the closing price of Caraco Common Stock on Dec 2, 2010.

The Board of Directors will meet on Tuesday Dec 7, 2010 to discuss this proposal and decide the next steps to be taken.

Detroit-based Caraco Pharmaceutical Laboratories, Ltd., develops, manufactures, markets and distributes generic pharmaceuticals to the nation's largest wholesalers, distributors, drugstore chains and managed care providers.

SOURCE Caraco Pharmaceutical Laboratories, Ltd.

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