Shares of Elite Pharmaceuticals Inc (OTCMKTS:ELTP) have been pretty much range bound all year. However, we think this is about to change after the company posted solid financial results for the 2016 fiscal year. As a result, more investors are start going to be paying attention to a company that is at the forefront of the ADT opioid boom.
Elite Pharmaceuticals Inc is a specialty pharmaceutical company which is developing a pipeline of proprietary pharmacological abuse-deterrent opioid products as well as niche generic products. Elite specializes in oral sustained and controlled release drug products which have high barriers to entry. Elite owns generic and OTC products which have been licensed to TAGI Pharma, Epic Pharma and Valeant Pharmaceuticals International. Elite currently has eight commercial products being sold, additional approved products pending manufacturing site transfer and a product under review pending approval by the FDA.
Read the rest here: http://www.insiderfinancial.com/elite-pharmaceuticals-inc-otcmktseltp-is-todays-pharma-focus/115768/
Another article from a post from March, 2016:
Elite Announces U.S. FDA Priority Review Designation For SequestOx™ NDA
SequestOx™ NDA Submission Accepted for Review
http://ir.elitepharma.com/profiles/investor/ResLibraryView.asp?ResLibraryID=80708&GoTopage=1&Category=2163&BzID=2258&t=2054&G=939
NORTHVALE, N.J., March 17, 2016 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP) today announced that the New Drug Application (NDA) for SequestOXTM (ELI-200), Elite's lead opioid abuse-deterrent candidate for the management of moderate to severe pain where the use of an opioid analgesic is appropriate, has been accepted and granted priority review by the United States Food and Drug Administration ("FDA"). The FDA has set a target action date under the Prescription Drug User Fee Act ("PDUFA") of July 14, 2016.
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