BNET Industries

Caraco Corp.

is in the Pharma Industry

Last Fiscal Year Sales:$17.5M
  • Private
  • US
Dow Jones Description

Caraco Pharmaceutical Laboratories, Ltd. is one of the fastest growing companies in the generic pharmaceutical industry. Caraco is engaged in the business of developing, manufacturing, marketing and distributing generic and private-label pharmaceuticals to the nation's largest wholesalers, distributors, warehousing and non-warehousing chain drugstores and managed care providers, throughout the U.S. These products are intended to treat a variety of disorders including but not limited to the following: hypertension, arthritis, epilepsy, diabetes, antipsychotic, depression and pain management. Founded in 1984, Caraco is located in the Metro Detroit area and its facilities have a total foot print of approximately 180,000 sq ft. Caraco initially struggled as a start up company, however, its renaissance truly began after establishing an alliance with Sun Pharmaceutical Industries, Ltd. ("Sun"), currently the 5th largest pharmaceutical company in India. In 1997, Sun became Caraco's majority shareholder, and subsequently, the two companies entered into a technology transfer agreement. As disclosed, under the products agreement dated November 21, 2002, Sun agreed to transfer the technology for 25 products (all have been selected), which Caraco would file with the FDA. Also, Caraco has recently entered into a definitive agreement to market Sun ANDAs that are either approved or awaiting approval at the FDA. Between the technology transfer and marketing agreements, along with Caraco's...

Chief Executive Officer
Jitendra N Doshi
Number of Employees 174
Contact Information

1150 Elijah McCoy Dr

Detroit, Michigan 48202

www.caraco.com

1 313 871 8400

NAICS Code Medicinal and Botanical Manufacturing: 325411

News & Analysis

caraco corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
Jitendra N Doshi Chief Executive Officer
Mukul Rathi Interim Chief Financial Officer
Gurpartap Singh Sachdeva Senior Vice President Business Strategies
Robert Kurkiewicz Senior Vice President, Technical
Singh Sachdeva Gurpartap Senior Vice President, Business Strategies

Board of Directors

Name (plus bio) Position
Dilip S Shanghvi Chairman of the Board of Directors
Timothy S Manney Chairman
Daniel H Movens Board of Directors
John D Crissman Board of Directors
Madhava Reddy Board of Directors
Sudhir V Valia Board of Directors

Mr. Doshi has been appointed as Caraco's interim Chief Executive Officer effective July 2009. From 2006 to July 2009, he served as the Executive Director of Sun Pharmaceutical Industries, Inc., a generic pharmaceutical company and wholly-owned subsidiary of Sun Pharma. Mr. Doshi has served Caraco in the following positions: Chief Financial Officer (November 2002 to January 2007), Chief Operating Officer (November 2002 to January 2007), interim Chief Executive Officer (September 2003 to May 2005) and Senior Vice President-Commercial (April 2001 to November 2002). From September 1999 to April 2001, Mr. Doshi was employed by Sun Pharma as General Manager Operations. From 1991 to 1999, Mr. Doshi was Managing Director of Aqua Bearing Ltd., an auto parts manufacturer organized under the laws of the Commonwealth of India.

Organization Position Status
Caraco Corporation Chief Executive Officer Current
Caraco Corporation Board of Directors Current
Caraco Corporation Chief Financial Officer and Chief Operating Officer Former

Organization Position Status
Caraco Corporation Interim Chief Financial Officer Current
University of Calcutta Former

Organization Position Status
Caraco Corporation Senior Vice President Business Strategies Current

Organization Position Status
Caraco Corporation Senior Vice President, Technical Current

Organization Position Status
Caraco Corporation Senior Vice President, Business Strategies Current
Caraco Corporation Board of Directors Current

Mr. Shanghvi has served as Chairman of the Board of Directors of Caraco since 1997. Mr. Shanghvi is the founder of Sun Pharma, its Managing Director since its inception in 1993, responsible for marketing, research and development and human resource development, and its Chairman since 1999. Also, since March 2007, Mr. Shanghvi is the Managing Director of Sun Pharma Advanced Research Company Ltd. Mr. Valia is Mr. Shanghvi's brother-in-law.

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Caraco Corporation Board of Directors Current

Organization Position Status
Caraco Corporation Board of Directors Current

Organization Position Status
Caraco Corporation Board of Directors Current
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