On January 12, 2010, J. Jay Lobell and David J. Kellman resigned from the board of directors of Chem Rx Corporation. On January 15, 2010, Gary M. Jacobs and Evan Selzer were appointed directors of company. Gary M. Jacobs is the Chief Financial Officer of Chem Rx. He became Chief Financial Officer of Chem Rx on June 12, 2008. From May 2005 to June 2008, Mr. Jacobs was the Chief Financial Officer and Chief Operating Officer of Gold Force International Ltd., a supplier of gold, silver and pearl jewelry to U.S. retail chains, and Karat Platinum LLC. Evan Selzer is currently an Executive Vice President of Chem Rx. Mr. Selzer has been employed by Chem Rx since March 1989 in various senior management positions including Director of Purchasing and Vice President. His breadth of experience includes all operations of Chem Rx's pharmacy, stock, delivery and purchasing departments. Mr. Selzer's current responsibilities include product purchasing, new technology and general operations.

Chem Rx Corporation announced that it has extended its short-term forbearance agreements with the requisite lenders under its two primary credit facilities until June 26, 2009. Under the original agreements, the forbearance period was to end on June 15, 2009. The extension of the forbearance agreements is intended to give all parties involved additional time to come to a resolution. The company said that it remains committed to reaching a satisfactory solution that is in the best interest of all involved parties, and is confident of a favorable outcome.

Effective May 21, 2009, Chem Rx Corporation changed its OTCPK stock ticker symbol to CHRX from CHRX.E.