Pressure Mounts as $eltp Share Price Dips

Many shareholders have long believed Elite Pharmaceuticals (eltp) would have reached new heights with a product pipeline that appears impressive. Due to some FDA dramatics that resulted in the Company's top selling drug being taken off the shelves, shareholders knew they were in for a struggle, though their 216 patent was thought to possibly provide at very least an off-setting effect. This was not the case, and as 2012 goes, they are sitting between .07-.08, a significant dip off from where they were perched for what seemed to be ages. As $eltp brings more drugs online there has been reason for keeping hope alive, with the ace in the sleeve being a possible large payout if they are to sell off their stake in Novel, which estimates are yet to be substantiated. Certainly things would shine bright were the FDA to reinstate Eltp's Lodrane, the drug that was pulled. Until these things happen and the Company is cash friendly, there will be continued bumps and bruises as the longs await driving buy-interests from the walk-ons.