EXHIBIT 10.9
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                                 PROMISSORY NOTE

$2,000,000                                                  Dated: June 24, 1999

         FOR VALUE RECEIVED, ABLE LABORATORIES, INC., a corporation duly created
and validly existing under the laws of the State of Delaware (the "Borrower")
promises to pay to he order of the NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY, a
public body corporate and politic and governmental instrumentality of the State
of New Jersey (the "Authority"), the principal sum of TWO MILLION DOLLARS, and
to pay interest from the date of issuance of the 1999 Bonds (hereinafter
defined) on the unpaid principal amount of this Note, such principal and
interest to be paid at the times, in the amounts and at the interest rates
hereinafter provided.

         This Note evidences the Borrower's indebtedness to the Authority under
a Loan Agreement dated as of June 1, 1999 (the "Loan Agreement") which provides
for the Authority to issue its Industrial Development Revenue Bonds (Able
Laboratories, Inc. Project) Series 1999A in the principal amount of $1,700,000
(the "1999A Bonds") and its Industrial Development Revenue Bonds (Able
Laboratories, Inc. Project) Series 1999B Bonds (Taxable) in the principal amount
of $300,000 (the"1999B Bonds," and together with the 1999A Bonds, the "1999
Bonds") and for the proceeds of the 1999 Bonds to be loaned to the Borrower to
pay costs of the Project described in the Loan Agreement. This Note is secured
by a leasehold mortgage, security agreement, assignment of rents and financing
statement covering the Realty, the Gross Revenues and personal property
associated with the Facilities from the Borrower to the Authority and by the
other collateral described therein (the "Mortgage"). In order to provide a
source of payment for and to secure the 1999 Bonds, the Authority has
transferred and assigned to the Trustee (as defined below) its right, title and
interest in and to this Note, the Mortgage, the Guaranty and the Loan Agreement,
subject to the reservations set forth therein, and accordingly, all interest and
principal payments due hereunder shall be paid to U.S. Bank Trust National
Association, 101 North First Avenue, Suite 2000, Phoenix, AZ 85003, Attention:
Corporate Trust Services, as Trustee (the "Trustee") under an Trust Indenture
dated as of June 1, 1999 (the "Indenture") as the assignee and holder of this
Note or at such other place as the Trustee or other holder of this Note may
designate in writing to the Authority and the Borrower. All payments made
pursuant to this Note shall be made in any coin or currency of the United States
of America which, at the time of payment, is legal tender for the payment of
public or private debts and which are immediately payable in Federal or other
funds and at or before 11:00 a.m., New York time, on each date when due and
payable.

         The Borrower shall pay or cause to be paid the principal, premium, if
any, and interest on this Note at such times and in such amounts which will
permit the Authority to make timely payments of the principal of, premium, if
any, and interest on the 1999 Bonds.

         This Note bears interest at the same rates and the interest on this
Note shall be computed and shall be payable on the same terms and conditions as
the interest on the 1999 Bonds, and all of the terms and provisions of the 1999
Bonds pertaining thereto are incorporated by reference herein.

<PAGE>

         In any case where the date of maturity of interest on or principal of
this Note or the date fixed for prepayment or redemption of this Note shall be
on (a) a Saturday, Sunday or legal holiday, (b) a day on which banks located in
New York, New York or in the city in which the principal corporate trust office
of the Trustee or the Paying Agent are required or authorized by law to close,
or (c) a day on which the New York Stock Exchange, Inc. is closed, then payment
of principal, premium, if any, or interest need not be made on such date but may
be made on the immediately succeeding Business Day (as defined in the Loan
Agreement) with the same force and effect as if made on the date of maturity or
the date fixed for redemption, and no interest shall accrue for the period after
such date.

         The Borrower shall also pay to the Trustee any and all other sums which
the Authority is obligated to pay to the Trustee under the terms and provisions
of the Indenture.

         This Note is subject to prepayment or redemption in the same manner as
provided for the redemption under Article IV of the Indenture and the defeasance
under Article X of the Indenture for the 1999 Bonds, and all of such redemption
and defeasance terms and provisions of the 1999 Bonds pertaining thereto are
incorporated by reference herein.

         Upon the occurrence of any Event of Default (as defined in the Loan
Agreement) the entire unpaid balance of the principal and accrued interest on
this Note may, at the option of the Authority or the Trustee, as provided in the
Loan Agreement, become immediately due and payable in the manner, with the
effect and subject to the conditions provided in the Loan Agreement.

         This Note is subject to all of the terms and conditions of the Loan
Agreement, which are hereby incorporated herein, with the same effect as if the
Loan Agreement were fully set forth herein. Reference is hereby made to the Loan
Agreement, executed counterparts of which are on file with the Authority, the
Borrower and the Trustee, for a description of the security for the Note, the
rights and obligations of the Borrower and the Authority in connection with the
Facilities and the loan made to finance the Project, and such other matters
affecting the indebtedness evidenced by this Note.

         THIS NOTE IS A GENERAL OBLIGATION OF THE BORROWER, TO WHICH ITS FULL
FAITH AND CREDIT ARE PLEDGED.

         The Borrower and any endorser hereof severally waive presentment,
demand, protest and notices (other than notices provided for in the Loan
Agreement or as required by law).


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<PAGE>

         IN WITNESS WHEREOF, the Borrower has caused this Note to be duly
executed on its behalf as of the date above.


ATTEST:                                    ABLE LABORATORIES, INC.
[SEAL]


_____________________                      By: _____________________











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<PAGE>



         Pay To The Order of U.S. Bank Trust National Association, as Trustee,
Without Recourse.



ATTEST:                                     NEW JERSEY ECONOMIC DEVELOPMENT
                                            AUTHORITY
[SEAL]


_______________________                     By: ____________________________
FRANK T. MANCINI, JR.                           CAREN S. FRANZINI
Assistant Secretary                             Executive Director









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