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The FDA Approves Lithium Carbonate Extended-Release Tablets, Generic Version of Lithobid

SOUTH PLAINFIELD, N.J.--(BUSINESS WIRE)--April 22, 2003-- Able Laboratories, Inc. (Nasdaq:ABRX - News; BSE:AAB - News), today announced that it has received Food and Drug Administration (FDA) approval for its Abbreviated New Drug Application (ANDA) for Lithium Carbonate Extended-Release Tablets, USP 300mg, which is therapeutically equivalent to Lithobid® Slow-Release Tablets, USP 300mg, of Solvay Pharmaceuticals, Inc. The total market for Able's newly approved drug (used in the treatment of episodes of manic depressive illness) is estimated to be approximately $27 million according to recent market data.

Although Able is the second company to receive an ANDA approval for this product, Able anticipates it will be the first company to ship the generic equivalent of Lithobid® Slow-Release Tablets.

Able Laboratories is a developer and manufacturer of generic pharmaceuticals. Since March 2001, Able has received 28 ANDA approvals. Further information on Able may be found on the Company's web site, www.ablelabs.com.

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