Able Laboratories Receives FDA Approval for Lithium Carbonate Extended-Release Tablets, USP 300mg.

Business Editors/Health/Medical Writers

SOUTH PLAINFIELD, N.J.--(BUSINESS WIRE)--April 22, 2003

Company Anticipates to Be the First to Ship Generic Version of

Lithobid(R) Slow-Release Tablets, USP 300mg

Able Laboratories, Inc. (Nasdaq:ABRX) (BSE:AAB), 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(R) 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(R) 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.

Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Able Laboratories, Inc., are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties. For example, statements about the Company's cost of capital and the availability of sufficient capital resources, operations and growth, the current or expected market size for the Company's products, the adequacy of the Company's manufacturing capacity, the success of current or future product offerings, research and development efforts and the Company's ability to file for and obtain U.S. Food and Drug Administration approvals for future products, are forward-looking statements. Forward-looking statements are merely the Company's current predictions of future events. The statements are inherently uncertain, and actual results could differ materially from the statements made herein. There is no assurance that the Company will continue to achieve the sales levels necessary to make its operations profitable or that ANDA filings and approvals will be completed and obtained as anticipated. For a description of additional risks, and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2002. The Company assumes no obligation to update its forward-looking statements to reflect new information and developments.