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Zenith Labs

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Executive Summary

President and CEO Larry Weber resigns. He was retained just over a year ago to manage generics firm, after previous management resigned, and to identify restructuring alternatives. Zenith filed for Chapter 11 shortly after Weber's arrival. A pharmaceutical consultant, Weber joined Zenith with understanding that he would leave once reorganization plan was completed. Company says it will file plan before June 1. Zenith recently retained Drexel Burnham Lambert to assist in divestiture of manufacturing facilities in Puerto Rico and Chicago. Zenith also has announced sale of its Ramsey, N.J. headquarters for over $ 5 mil.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

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