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TitleELTP
CountryUnited States
Fans
 
 
Description

State-of-the Art Facility

Elite can develop and manufacture oral solid dosage forms such as tablets and capsules.  Elite's facility in Northvale, NJ includes administrative offices, R&D labs, analytical labs and manufacturing suites.  The GMP manufacturing facility is DEA registered for research, development, and manufacturing.  Elite is capable of

 taking a project from concept to commercialization.

 

Website:

http://www.elitepharma.com/


Tuesday, May 24, 2011
The Company now has 243,363,531 shares of common stock outstanding

 


Transfer Agent

Jersey Transfer & Trust Company
201 Bloomfield Avenue
Verona, New Jersey 07044

Phone:  973-239-2712
Fax:  973-833-0431
E Mail: 
 jerseytransfertr@msn.com

 

 Link to SEC filings:

http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001053369&owner=include

 

 


Recent Press Releases: {C}{C}


link to press releases on ELTP website!
http://www.elitepharma.com/investor_relations.asp


 

Elite Pharmaceuticals Press Release for: Tuesday, May 24, 2011


 
ELITE PHARMACEUTICALS ANNOUNCES EXCHANGE OF SERIES D CONVERTIBLE PREFERRED SECURITIES FOR COMMON, ELIMINATES FUTURE DIVIDENDS 
 

Northvale, New Jersey, Tuesday, May 24, 2011: NORTHVALE, N.J. - May 24, 2011 - Elite Pharmaceuticals, Inc. ("Elite") (OTCBB:ELTP) today announced that all of the outstanding shares of its Series D 8% Convertible Preferred Stock (the "Series D") has been converted into the Company's common stock, pursuant to the election of the holders of the Series D. This eliminates the Company's obligation to pay $720,000 in annual dividends and eliminates the associated administrative costs. The Company now has 243,363,531 shares of common stock outstanding.

About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. develops oral sustained and controlled release products. Elite's strategy includes assisting partner companies in the life cycle management of products, to improve off-patent drug products, and developing generic versions of controlled release drug products with high barriers to entry. Elite has three approved ANDA's partnered with TAGI Pharma, with an additional ANDA currently under review by the FDA. Elite's lead pipeline products, ELI-216, a once-daily abuse resistant oxycodone, and ELI-154, a once-daily oxycodone, are novel sustained release oral formulations of opioids for the treatment of chronic pain, which address two of the limitations of existing oral opioids: the provision of consistent relief of baseline pain levels and deterrence of potential abuse. Elite also has partnered with Mikah Pharma to develop a new product and with Hi-Tech Pharmacal to develop an intermediate for a generic product. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.

Contact:
For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations, 518-398-6222
Dianne@elitepharma.com
www.elitepharma.com

Elite Pharmaceuticals Press Release for: Wednesday, April 06, 2011


 
ELITE PHARMACEUTICALS, INC. ANNOUNCES THIRD CLOSING OF STRATEGIC ALLIANCE AGREEMENT WITH EPIC PHARMA 
 

Northvale, New Jersey, Wednesday, April 06, 2011:
NORTHVALE, N.J. - April 6, 2011 - Elite Pharmaceuticals, Inc. ("Elite") (OTCBB: ELTP) announced that on March 31, 2011 the company completed the third closing of the Strategic Alliance Agreement (the "Alliance") with Epic Pharma, LLC and Epic Investments, LLC, a wholly-owned subsidiary of Epic Pharma, LLC (collectively "Epic") pursuant to the terms in the Alliance entered into on March 18, 2009 and previously disclosed.

Pursuant to the Alliance, Epic agreed to invest $3.75 million in Elite through the purchase of Elite's Series E Preferred Stock and common stock warrants. In the March 31, 2011 closing, Epic made the third $1.0 million payment of this total amount, acquired 1,000 shares of Series E Preferred Stock and received a warrant registered to purchase up to forty million (40,000,000) shares of Common Stock at an exercise price of Six and 25/100 Cents ($0.0625) per share.

Under the Alliance (i) at least eight generic drug products will be developed by Epic at Elite's facility with the intent of filing abbreviated new drug applications for obtaining United States Food and Drug Administration ("FDA") approval of such generic drugs, (ii) Elite will be entitled to 15% of the profits generated from the sales of such additional generic drug products upon approval by the FDA, and (iii) Epic and Elite will share with each other certain resources, technology and know-how in the development of drug products, which Elite believes will benefit the continued development of its current drug products. Epic will also be entitled to receive additional shares of Elite's Common Stock and warrants to purchase shares of Elite's Common Stock upon achievement of certain milestones relating to the eight additional generic drug products being developed together. The first of these eight products has been filed with the FDA.



 


Elite develops products that have high barriers to entry with regard to factors such as:

        ?    Products with formulation complexities

        ?    Products with regulatory challenges

        ?    Products requiring specialized release profiles

        ?    Products with raw material problems

 

Elite typically develops these products through proof of concept and then partners or licenses them out to fund the further development and for marketing. Under licensing terms, Elite typically receives milestone payments during development and royalty payments upon commercialization.

Elite is a full service research and development company and can pursue an ANDA/NDA project from its inception through development and approval to launch stage.

 


 

  

 

 

 


Product Pipeline

Programs Under Development

Branded Products (a)

Therapeutic Category

NDA / ANDA

Development Stage (b)

Partnered

ELI-154
Oxycodone CR
Once a day

NA

Pain

NDA

Phase III pending

No

ELI-216
Abuse Resistance Product for use with oxycodone or other opioids

N/A

Pain

NDA

Phase III pending

No

Undisclosed
Twice a day

Undisclosed

Anti-infective

ANDA

Pilot BE study complete

No

Undisclosed
Once a day

Undisclosed

Gastrointestinal

ANDA

Pilot BE study complete

Yes

 

Commercial Products

Commercial
  Product

Branded Products (a)

Therapeutic Category

Commercial
Status

Partner

Lodrane®
Once a Day

N/A

Allergy

Launched

ECR Pharmaceuticals

Lodrane 24D ®
Once a day

N/A

Allergy

Launched

ECR Pharmaceuticals

Methadone Hydrochloride
10 mg tablets
Dolophine®
hydrochloride, 10 mg tablets
Pain FDA Approved, Launch pending

ThePharmaNetwork

Hydromorphone Hydrochloride
8 mg tablets
Dilaudid®
8 mg
Pain FDA Approved, Launch pending Precision Dose, Inc.
Naltrexone Hydrochloride
50 mg
ReVia® and Depade® Opioid Receptor Antagonist FDA Approved, Launch pending Precision Dose, Inc.


Board Of Directors

Jerry Treppel - Chairman of Board of Directors
Jerry Treppel has served as the managing member of Wheaten Capital Management LLC, a capital management company focusing on investments in the health care sector, since 2003. In October 2008, Mr. Treppel was also appointed managing director of Ledgemont Capital Group LLC, a boutique merchant bank that provides access to capital and corporate advisory services to public and private companies.  Over the past 20 years, Mr. Treppel was an equity research analyst focusing on the specialty pharmaceuticals and generic drug sectors at several investment banking firms including Banc of America Securities, Warburg Dillon Read LLC (now UBS), and Kidder Peabody and Co.  He previously served as a healthcare services analyst at various firms, including Merrill Lynch & Co.  Mr. Treppel holds a BA in Biology from Rutgers College, an MHA in Health Administration from Washington University, and an MBA in Finance from New York University.  Mr. Treppel has been a Chartered Financial Analyst *CFA) since 1988.   - Chairman of Board of Directors

Barry Dash, Ph.D. - Director
Dr. Barry Dash  has been  President and Managing Member of Dash Associates, L.L.C., since 1995, an independent consultant to the pharmaceutical and health and beauty aid industries. From 1983 to 1996 he was employed by American Home Products Corporation, its Whitehall-Robins Healthcare Division initially as Vice President of Scientific Affairs, then Senior Vice President of Scientific Affairs and then Senior Vice President of Advanced Technologies during which time he personally supervised six separate departments: Medical and Clinical Affairs, Regulatory Affairs, Technical Affairs, Research and Development, Analytical R&D and Quality Management/Q.C. He had previously been employed by the Whitehall Robins Healthcare Division from 1960 to 1976, during which time he served as Director of Product Development Research, Assistant Vice President of Product Development and Vice President of Scientific Affairs. Dr. Dash had been employed by J.B. Williams Company (Nabisco Brands, Inc.) from 1978 to1982, during which time he helped introduce more than 14 national and test market brands. From 1976 to1978 he was Vice President, Director of Laboratories of the Consumer Products Division of American Can Company. He is a director of GeoPharma, Inc. Dr. Dash holds a Ph.D. from the University of Florida and M.S. and B.S. degrees from Columbia University at which he was Assistant Professor at the College of Pharmaceutical Sciences from 1956 to 1960. He is a member of the American Pharmaceutical Association, The American Association for the Advancement of Science and the Society of Cosmetic Chemist.

Chris Dick - Chief Operating Officer and Director
Chris Dick joined Elite in November of 2002 as Vice President of Corporate Development. He directs licensing and business development activities for Elite. He joined Elite from Elan Drug Delivery, Inc. where he served as Director of Business Development. While in this position he was responsible for licensing and business development of Elan's portfolio of drug delivery technologies. Prior to Elan, Mr. Dick was Manager of Business Development and Marketing for EnTec, a drug delivery business unit within FMC Corporation's Pharmaceutical Division. Mr. Dick held various other business and technical positions at FMC including Manager of Marketing for the FMC's pharmaceutical functional coatings product line. Mr. Dick received an M.B.A. from Stern School of Business, New York University and a B.S. and M.S. in Chemical Engineering from Cornell University

Robert Levenson - Director
Robert Levenson is currently Managing Member of the Lenox Capital Group, L.L.C. since 2000. Mr. Levenson was previously an Executive Vice President of First Data Corporation from 1993 to 2000 and a member of its Board of Directors from 1992 to 2003. He was Senior Executive Vice President, Chief Operating Officer, and Member of the Office of the President and Director of Medco Containment Services, Inc., a provider of managed care prescription benefits, from October 1990 to December 1992. From 1985 until October 1990, he was a Group President and Director of Automatic Data Processing, Inc.  (ADP-NYSE). Mr. Levenson was a Director of Emisphere Technologies, Inc., a biopharmaceutical company, from 1998 to 2005, as well as having been a Director of several other companies, public and private. Mr. Levenson is currently nominated to be a director of Ceridian Corporation (NYSE: CEN). Mr. Levenson is a trustee of the Washington Institute, the Jewish Community Federation, and the Jewish Community Foundation of Metrowest New Jersey.

Melvin Van Woert, M.D. - Director
Dr. Melvin Van Woert, a neurologist, has been, since 1974, a member of the staff of Mount Sinai Medical Center where he has been a Professor of the Department of Neurology and Pharmacology at Mount Sinai School of Medicine since 1978. Dr. Van Woert had been a consultant for Neuropharmacological Drug Products to the Food and Drug Administration from 1974 to 1980; Associate Editor for Journal of the Neurological Sciences; Member of the Editorial Board of Journal of Clinical Neurphamacology; and Medical Director of National Organization for Rare Disorders for which he received in 1993 the Humanitarian Award. His other awards include the U.S. Public Health Service Award for Exceptional Achievement in Orphan Products Development and the National Myoclonus Foundation Award. He has authored and co-authored more than 150 articles appearing in pharmacological, medical and other professional journals or publications.

Mark Gittelman - Chief Financial Officer, Secretary & Treasurer
Mark I. Gittelman, CPA, our Chief Financial Officer, Secretary and Treasurer, is the President of Gittelman & Co., P.C., an accounting firm. Prior to forming Gittelman & Co., P.C. in 1984, he worked as a certified public accountant with the international accounting firm of KPMG Peat Marwick, LLP. Mr. Gittelman holds a B.S. in accounting from New York University and a Masters of Science in Taxation from Farleigh Dickinson University. He is a Certified Public Accountant licensed in New Jersey and New York, and is a member of the American Institute of Certified Public Accountants ("AICPA") and the New Jersey State and New York States Societies of CPAs.


Investor Relations

Dianne Will
Willstar Consultants, Inc.
3978 Route 199
Pine Plains, NY 12567
(518) 398-6222
Fax: (518) 398-6369
dianne@elitepharma.com

Photos
ELTP
_ELTP
http://www.stockgoodies.com/m/photos/get_image/file/996f6f3476f4fc5e79154bc1f0c56412.jpg
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