Turbulent times for Able Laboratories
It seems that US generic drugmaker Able Laboratories has hit a rough patch following a stream of recent product recalls due to improper laboratory practices and non-compliance with standard operating procedures.
The firm said that it has decided to temporarily suspend shipment of each of its products until it can be established which were produced under Good Manufacturing Practices, following an internal review revealing further quality-control problems. Consequently, sales goals and operating objectives will not be met for the current year and, therefore, the company is withdrawing its financial guidance.
Closely following this announcement, came the news that Able's chairman and chief executive, Dhananjay Wadekar, has resigned from these positions with immediate effect. Robert Mauro, current chief operating officer, will act as interim CEO.
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