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Executive Summary

ZENITH TARGETING LAUNCH OF INJECTABLES FOR LATE 1987, the company announced in an Oct. 9 release. Zenith said it hopes to have a line of sterile products, including injectables, "reach approximately 20 different products in the first two years of operation." The company purchased its sterile manufacturing facilities from Smith Labs. "We anticipate that these product introductions will begin to occur in the latter part of 1987," Zenith stated. The company said it has not yet submitted an ANDA for any injectable product. In the interim before approval of its own line, Zenith will perform contract manufacturing. Zenith announced that it has a contract with Boots for manufacture of chymopapain. Boots acquired the herniated disc product when it purchased Baxter Travenol's Flint Labs subsidiary in August. Baxter was manufacturer of the Discase brand of chymopapain; it acquired the rights to Smith Labs' Chymodiactin brand in July. Zenith completed its purchase of Smith Lab's sterile product manufacturing facilities on Sept. 30. Zenith earlier noted that the acquisition would enable the company to expand its pharmaceutical line to include injectable products ("The Pink Sheet" May 26, T&G-12). Smith Labs had also commented that it might consider a contract production agreement with Zenith at some time in the future. Boots will carry out that plan. Zenith said it is also negotiating with other companies for contract manufacturing. In the same release, Zenith predicted a net after-tax loss for the third quarter ended Sept. 30 that "should not exceed approximately $3.5 mil." The company stated: "In response to these losses, Zenith has implemented special sales promotions and cost reduction programs, including major work force reductions." Zenith said it has laid off approximately 25% of its employees, cutting the total work force to less than 400. The firm explained that some of those laid off will return to work while there will be reductions in other areas.

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