Pakiya's  Instablog

Send Message
Value investor looking to buy strong companies run by able and honest management for a large discount to intrinsic value. Visit his sites: Pakiya Funds ( See Seeking Alpha's policy on anonymous authors:... More
My blog:
Pakiya Funds
  • Caraco Update 0 comments
    Sep 30, 2009 1:17 AM | about stocks: CPD

    Today Caraco announced they have reached a consent decree with the FDA. From the announcement:

    Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announced today that it has entered into a consent decree with the U.S. Food and Drug Administration (FDA) regarding the company's drug manufacturing operations. The decree provides a series of measures that, when satisfied, will permit Caraco to resume manufacturing and distributing those products that are manufactured in its Detroit area facilities. The Company is working expeditiously to satisfy the requirements of the decree and has already retained independent cGMP experts for review of the Company's operations and to facilitate a successful result.

    Caraco now has an approved plan for getting back into FDA compliance and commencing manufacturing. It is now a matter of management executing the plan. The company's consent decree was expeditious and much quicker than I expected. 

    It will still be a while before the company can start manufacturing but this news places a path that can be followed to get back into compliance.

    The press release regarding the decree:

    Pakiya Funds

    Disclosure: Long CPD

    Stocks: CPD
Back To Pakiya's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.