<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
December 23, 1997
CARACO PHARMACEUTICAL LABORATORIES, LTD.
------------------------------------------------
EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER
Michigan 0-24676 38-25-5723
---------------------------- ------------------- -------------------
(STATE OR OTHER JURISDICTION COMMISSION FILE NO. IRS EMPLOYER ID NO.
OF INCORPORATION)
1150 Elijah McCoy Drive, Detroit, MI 48202
-------------------------------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NO.: (313) 871-8400
The Exhibit Index is located on page 3.
The total number of pages is 4.
<PAGE> 2
ITEM 5. OTHER EVENTS.
On December 19, 1997 Caraco Pharmaceutical Laboratories Ltd. announced
the termination of its President. Additional details are set forth on the
attached public announcement (EXHIBIT A).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CARACO PHARMACEUTICAL LABORATORIES, LTD.
/s/ Allan J. Hammer
-----------------------------------------
Allan J. Hammer
Chief Financial Officer
(A duly authorized signatory
of the Company)
DATED: December 23, 1997
<PAGE> 3
EXHIBIT INDEX
Exhibit Table
Number Exhibit Page
- ----------------------------------------------------------------------------
99 EXHIBIT A - Company's Press Release 4
dated December 23, 1997
<PAGE> 1
EXHIBIT A
COURTESY OF PR NEWSWIRE
/FROM PR NEWSWIRE DETROIT 249-352-5200/
[STK] CARA
[IN] MTC
[SU] PER
TO BUSINESS EDITOR,
CARACO ANNOUNCES MANAGEMENT CHANGE
DETROIT, Dec. 19 /PRNewswire/ - - Caraco Pharmaceutical Laboratories,
Ltd. (Nasdaq, CARA) today announced that in conjunction with other coat-cutting
measures it has recently implemented, it was terminating the employment of its
President, William Hurd effective as of December 31, 1997. Mr. Hurd joined
Caraco in late 1993 as Executive Vice-President and Chief Operating Officer. He
was instrumental in completing the transaction between Sun Pharmaceutical
Industries Ltd. ("Sun Pharma") and Caraco. Mr. Hurd's duties will be assumed by
Mr. Narendra Borker, Caraco's Chief Executive Officer, who was appointed in
August 1997.
Sun Pharma is a vertically integrated Indian pharmaceutical company
that went public in October 1994. Its extensive product base includes
significant presence in the therapeutic areas of neurology, psychiatry,
cardiology, gastroenterology, oncology and anti-infectives
Caraco Pharmaceutical Laboratories, Ltd. is engaged in the development,
manufacture and marketing of generic pharmaceuticals for the ethical and over
the counter markets.
SOURCE Caraco Pharmaceutical Laboratories, Ltd.
-o- 12/19/97
/CONTACT: Narendra Broker of Caraco. 313-871-8430/
[CARA]
CO: Caraco Pharmaceutical Laboratories, Ltd.
ST: Michigan
TN: NTC
SU: PER
JE-AP
- --DEF015--
