• 1984
    - Caraco Pharmaceutical Laboratories, Ltd., established in Detroit,
      Michigan.

• 1990
    - Caraco constructs 70,000+ sq ft facility in New Center Area with
      support from the Economic Development Corporation of the City of
      Detroit.

• 1994
    - Caraco became a public company.

• 1996
    - Caraco receives first ANDA approval for Metoprolol Tartrate Tablets.

• 1997
    - Caraco enters into an agreement with Sun Pharmaceutical Industries,
      Ltd. for technology transfers.

• 1998
    - Two new products are introduced, and a total of 21 generics are in
      various stages of development.

• 2000
   - FDA restores cGMP standing after warning to focus on laboratory and
     manufacturing documentation.

• 2001
   - Caraco receives cGMP clearance from FDA. FDA waives pre- approval
     inspection for 9 pending ANDAs. FDA approves 3 products.

• 2002
   - FDA approves 6 products. Caraco announces its first gross quarterly
     profit ever. Signs new deal with Sun Pharma for an additional
     25 products over 5 years. Capital investment of $1.6 million to expand
     capacity.

• 2003
   - Net sales cross $45 million.
   - Gross profit $26 million.
   - Positive cash flows exceeding $15 million.
   - Capital investment of $2.5 million to expand capacity.
   - Four consecutive profitable quarters and first profitable year.
   - EDC loan restructured.
   - Sun loan paid off.
   - New 55,000+ sq. ft. leased premises to accommodate regulatory affairs,
     sales and marketing, accounting and commercial departments and
     warehousing.

• 2004
  - Fourth consecutive year of record sales growth.
  - Sales top $60.3 million - Up 33% year-over-year.
  - Net cash generated from operations exceeds $22 million.
  - All debt retired with $33.0 million in debt payments.
  - $4 million in plant renovations increase efficiency and raise production
    capacity.
  - FDA approvals received for Citalopram, Mirtazapine and 25mg strength
    of Metoprolol Tartrate.
  - Two drugs launched - Citalopram and Mirtazapine.
  - Formulary increased to 19 drugs in 38 strengths and 92 package sizes.
  - Total 18 of 25 products identified under Sun Pharma R&D Agreement.
  - Seven biostudies completed.
  - Six ANDAs filed - Total of six pending approval.
  - Fiscal 2006 sales forecast to grow 15.20%.
  - Fiscal year changed to March 31 to synchronize with Sun Pharma (2005).

• 2005
   - Transition Period in which we changed our fiscal period from
     Calendar year to a Fiscal year effective April 2005.

• Fiscal 2006
  - Sales of $83 million, representing an increase of 29% over the
    corresponding period of fiscal 2005.
  - FDA Approvals of Fluvoxamine, Carbamazapine, Tramadol with APAP,
    Clozapine 50mg, tentative approval on Zolpidem Tartrate, tentative
    approval on Carvedilol .
  - Filed 10 products with the FDA in fiscal 2006.
  - 5th consecutive year of growth.
  - Enhanced sales team with additional staff and succession planning.
  - Improved technical team with additional staff and succession planning.
  - Increased Forecast of estimated growth to 25-30% growth.
  - Implemented systems and staffing to manage growth.
  - Completed manufacturing expansion within facility increasing usable sq
    ft to 80,000 sq. ft. Increased total footprint to 142,000 sq ft.
  - Increased manufacturing capacity by 35%.
  - 25 products identified for Sun agreement, 20 passed bio-studies and 19
    of those are filed with the FDA.
  - Updated our enterprise wide system for streamlining and improving
    process time.
  - Developed Clozapine Registry Web site for electronic patient
    monitoring information.
  - Awarded summary judgment in favor of Caraco on Tramadol w/APAP
    litigation.
  - Maintained gross profit of 49% which is above the generic industry
    average.
  - Award of Top 500 fastest growing technology companies Ranked 96th by
    Deloitte & Touche.
  - Award of Future 50 representing the top 50 growth companies in Metro
    Detroit based on sales and employment.

• Fiscal 2007
  - Record annual sales of $117 million for the full year of fiscal 2007, which
    represents an increase of 41% over the corresponding period of fiscal
    2006.
  - Entered into a definitive agreement to market Sun ANDAs that are either
    approved or awaiting approval at the FDA.
  - Signed three definitive agreements with third party developers or
    formulators.
  - Acquired a packaging facility, which has been fully transitioned.
  - Recognized by one of the “Big Three” wholesalers in U.S. as Best Trade
    Representative for companies under $100 million in sales with that
    wholesaler.
  - Filed 19 ANDAs (11 products) with the FDA bringing total ANDAs awaiting
    approval to 29 (21 products), including one tentative approval.
  - Launched 11 products (five Caraco ANDAs and six Sun ANDAs): Baclofen,
    Carbamazepine 200 mg, Glipizide, Meloxicam, Fluvoxamine, Gabapentin
    Caps, Gabapentin Tabs, Metformin HCL ER, Ondansetron Injection,
    Phenytoin Sodium Capsules ER, and Zonisamide.