Able Laboratories Announces Workforce Reduction

Able Laboratories announced that, due to its recently announced suspension of manufacturing operations, the company has reduced its staff by approximately 200 manufacturing and other employees. This disruption in the company's operations and the reduction in workforce is expected to have a material adverse effect on the company's results of operations and financial position. The company can give no assurance as to when it will be able to resume manufacturing operations, or if does, whether it will be able to hire, train and retain the manufacturing and other operating personnel necessary to operate effectively.

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