Zenith to Sell Subsidiaries: Zenith Laboratories Inc....

Zenith to Sell Subsidiaries: Zenith Laboratories Inc. announced that it intended to sell two subsidiaries as part of its reorganization plan. The Northvale, N.J., maker of generic drugs said it had hired Drexel Burnham Lambert Inc. as its financial adviser and investment banker, which still was subject to approval by the U.S. Bankruptcy Court at Newark, N.J. The subsidiaries are Zenith Parenterals Inc., Rosemont, Ill., which makes a line of injectable products and offers contract manufacturing services, and Zenith Caribe Inc., Puerto Rico, which makes a variety of products in tablet, capsule and hard-shell oral dosage form.