ELITE PHARMACEUTICALS INC

ELITE PHARMACEUTICALS INC

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Company Overview
Elite Pharmaceuticals Inc is a publicly quoted American company which is engaged in the research, development, production, and license of orally administered controlled release drug delivery systems and products . It was established in 1994 and has its registered corporate headquarters located in Northvale, New Jersey.
The company’s drug delivery technology involves releasing a drug into the bloodstream or delivering it to a certain site in the body at predetermined rates or at predetermined times. Elite’s products include drugs that provide therapeutic benefits for pain, angina, hypertension, allergy and infection.
Elite’s allergy products include Lodrane 24 and Lodrane 24D. It is also involved in the development of seven drug candidates, including ELI 154 and ELI 216 for therapeutic areas, including pain management, allergy, and infection.
Elite Pharmaceuticals is in partnership with Tish Technologies Inc, Harris Pharmaceuticals Inc, and Orit Laboratories LLC for the development and license of a controlled release generic product; PharmaNetwork LLC for the development of the generic equivalent of a synthetic narcotic analgesic drug product; and IntelliPharmaCeutics Corp for the development and commercialization of a controlled released generic drug for gastric diseases.
Business Summary
Elite Pharmaceuticals, Inc. (Elite) is a specialty pharmaceutical company principally engaged in the development and manufacture of oral, controlled-release products, using technology. The Company has two products: Lodrane 24 and Lodrane 24D, being sold commercially. It also has an approved generic methadone product developed with its partner. The PharmaNetwork. Elite manufactures two once-daily allergy products, Lodrane 24 and Lodrane 24D, that were co-developed with its partner, ECR Pharmaceuticals (ECR). The products are being marketed by ECR. Elite’s revenues for manufacturing these products and a royalty on sales for the fiscal year ended March 31, 2010 (fiscal 2010), aggregated $3,339,870. Elite co-developed a generic methadone product that was approved in November 2009. Elite is also preparing for the manufacture of this product at the Facility.
Description and history
Elite Pharmaceuticals, Inc. (Elite), incorporated on October 1, 1997, is a specialty pharmaceutical company principally engaged in the development and manufacture of oral, controlled-release products, using technology. The Company has two products: Lodrane 24 and Lodrane 24D, being sold commercially. It also has an approved generic methadone product developed with its partner. The PharmaNetwork. Elite manufactures two once-daily allergy products, Lodrane 24 and Lodrane 24D, that were co-developed with its partner, ECR Pharmaceuticals (ECR). The products are being marketed by ECR. Elite’s revenues for manufacturing these products and a royalty on sales for the fiscal year ended March 31, 2010 (fiscal 2010), aggregated $3,339,870. Elite co-developed a generic methadone product that was approved in November 2009. Elite is also preparing for the manufacture of this product at the Facility.

Elite purchased a generic hydromorphone product (equivalent to 8 mg Dilaudid) in May 2010. Elite is transferring this product to the Facility. For ELI-154, Elite has developed a once-daily oxycodone formulation using its technology. ELI-216 utilizes Company’s abuse-deterrent technology that is based on a pharmacological approach. ELI-216 is a combination of a narcotic agonist, oxycodone hydrochloride, in a sustained-release formulation intended for use in patients with moderate to severe chronic pain, and an antagonist, naltrexone hydrochloride, formulated to deter abuse of the drug. ELI-216 demonstrates a euphoria-blocking effect when the product is crushed. Elite has developed ELI-154 and ELI-216 and retains the rights to these products.

The Company competes with King Pharmaceuticals, Novartis company, Durect Corporation, Mylan Laboratories, Inc., Par Pharmaceuticals, Inc., Teva Pharmaceuticals Industries Ltd., Biovail Corporation, Ethypharm S.A., Eurand, Impax Laboratories, Inc., K-V Pharmaceutical Company and Penwest Pharmaceuticals Company.

Business Line
Engaged in the research, development, production, and license of orally administered controlled release drug delivery systems and products
Subsidiary
ELITE LABORATORIES INC
Advisor
DEMETRIUS & COMPANY
IPO date
8/1998
US SIC Code
8731
Company Address
165, Ludlow Avenue

City province or state postal code
07647, NORTHVALE, NJ
Phone: +1 201 750 2646
Fax: +1 201 750 2755
Country address: UNITED STATES OF AMERICA
Website url: www.elitepharma.com