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Revenue will continue to grow. Our CEO is the largest common shareholder. ;)
Adderall XR, including generic versions, have a market value of approximately $1.3 billion for the 12 months ended January 2020, according to IQVIA.
https://drugstorenews.com/elite-lannett-launch-generic-adderall-xr
Elite Pharmaceuticals, Inc. to Host Conference Call to Provide Corporate Update and Discuss First Quarter of Fiscal Year 2021 Results on August 17, 2020
Published: Aug 12, 2020
NORTHVALE, NJ / ACCESSWIRE / August 12, 2020 / Elite Pharmaceuticals, Inc., ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, announced today that it will release its 2021 first quarter financial results on Friday, August 14, 2020. Elite's management will host a live conference call Monday, August 17 at 11:30 AM EDT to discuss the company's financial and operating results and provide a general business update. Stockholders may submit questions to the company prior to the call.
Conference Call Information
Date:
August 17, 2020
Time:
11:30 AM EDT
Dial- in numbers:
1-800-346-7359 (domestic)
1-973-528-0008 (international)
Conference number:
98840
Audio Replay:
https://elite.irpass.com/events_presentations
About Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company which develops niche generic products. Elite specializes in developing and manufacturing oral, controlled-release drug products. Elite owns multiple generic products which have been licensed to TAGI Pharma, Glenmark Pharmaceuticals, Inc., USA, and Lannett Company, Inc. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.
https://www.biospace.com/article/elite-pharmaceuticals-inc-to-host-conference-call-to-provide-corporate-update-and-discuss-first-quarter-of-fiscal-year-2021-results-on-august-17-2020/
More numbers, Meshcan. Not many sales in the past history for Insiders.
https://sec.report/CIK/0001053369/Insider-Trades
Roger that Meshcan. Ask super thin. Volume will move the numbers north significantly.
Public Float
757.76 M
Market Cap
$54.07 M
ELTP$$$$$
Looks like the ASK is heading towards .07
Financials coming out in a couple of days. Here are some facts and not Micky Mouse opinions.
ELTP revenues are impressive – On February 10 ELTP reported results for the third quarter of fiscal year 2020 ended December 31, 2019. Consolidated revenues for the Third Quarter were $5.1 million, an increase of approximately 88% as compared to revenues for the comparable quarter of the prior fiscal year. The increase in revenues was largely attributed to revenues from the two products launched during the 2020 Fiscal Year, generic immediate release Adderall® and Dantrolene Capsules as well as strong growth in revenues relating to the sales of Isradipine capsules.
In December ELTP announced it received approval from the US Food and Drug Administration (FDA) for a generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg tablets. The product is a central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). According to IQVIA (formerly QuintilesIMS Health) data, the branded product and its equivalents had total U.S. sales of $1.3 billion for the twelve months ending October 2019. Generic Adderall XR is jointly owned and the second product approval for our Elite and SunGen Pharma LLC collaboration. Elite will manufacture and package the product on a cost-plus basis. Lannett Company, Inc. will be the exclusive U.S. distributor.
https://microcapdaily.com/everyone-is-talking-about-elite-pharmaceuticals-inc-otcbbeltp/125712/
On March 31 ELTP announced its marketing partner Lannett Company, Inc. has commenced product launch of Elite’s generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg capsules. Adderall XR®, including generic versions, have an estimated IQVIA™ market value of approximately $1.3 billion for the twelve months ending January 2020. Adderall XR® is a once-daily central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).
This generic Adderall XR® product is jointly owned by Elite and SunGen Pharma LLC and is the second product launched from their collaboration. Elite will manufacture and package the generic product on a cost-plus basis. Lannett Company, Inc. will be the exclusive U.S. distributor for the product and will provide sales, marketing, and distribution.
Currently trading at a $74 million market valuation ELTP does have $1.8 million in the treasury, $24 million in assets and $7.7 million in current liabilities. ELTP is an exciting story in small caps with a number of FDA approved drugs already on the market reporting significant sales – ELTP reported $13,049,340 in revenues for the 9 months ended December 31, 2019 up from $6.2 million for the same period in 2018.
https://microcapdaily.com/everyone-is-talking-about-elite-pharmaceuticals-inc-otcbbeltp/125712/
NORTHVALE, NJ / ACCESSWIRE / June 29, 2020 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the fiscal year ended March 31, 2020 ("Fiscal 2020").
Consolidated revenues for Fiscal 2020 were $18.0 million, an increase of $10.4 million or approximately 137% from the comparable period of the prior fiscal year. The increase in revenues was largely attributed to revenues from products launched during the 2020 Fiscal Year, generic immediate release Adderall®, generic extended release Adderall®, and generic Dantrolene Capsules, as well as strong growth in revenues relating to the sales of Isradipine capsules.
https://finance.yahoo.com/news/elite-pharmaceuticals-inc-reports-financial-225500663.html
Global Prion Disease Treatment Market is Thriving with Rising Latest Trends by 2027 | Top Players- Elite Pharmaceuticals Inc, Ionis Pharmaceuticals, Inc, Sawai Pharmaceutical Co., Ltd
August 4, 2020
Prion Disease Treatment Market is rising gradually with a substantial CAGR in the forecast period of 2019-2026. Government policies and initiatives to offer a fund to many research institute and pharmaceutical companies for developing novel therapy and high demand of novel treatment worldwide are the key factors for market growth. A few of the major competitors currently working in the global prion disease treatment market are Elite Pharmaceuticals Inc, Ionis Pharmaceuticals, Inc, Sawai Pharmaceutical Co., Ltd, Teva Pharmaceutical Industries Ltd, Mylan N.V., Novartis AG, Fresenius SE & Co. KGaA, Lannett, Aurobindo Pharma and others
https://marketresearchvista.com/2020/08/04/global-prion-disease-treatment-market-is-thriving-with-rising-latest-trends-by-2027-top-players-elite-pharmaceuticals-inc-ionis-pharmaceuticals-inc-sawai-pharmaceutical-co-ltd/
We are still adding weekly also. Many are actually.
No worries.
ELTP$$$$
For those who are actual shareholders should like this AM action.
Just another 6% gain. Big Money!!!
Ask still very thin.
ELTP$$$$
Substance Abuse Treatment Market Projected to Gain Significant Value by 2024
August 7, 2020
Transparency Market Research (TMR) has published a new report titled, “Substance Abuse Treatment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global substance abuse treatment market was valued at US$ 8,000 Mn in 2017. It is projected to expand at a CAGR of 8% from 2018 to 2026. The report suggests that emerging initiatives by manufacturers and governments and rise in abuse of prescription drugs are anticipated to boost the global substance abuse treatment market from 2018 to 2026. North America and Europe are expected to dominate the global substance abuse treatment market in the next few years, owing to market availability of new drugs and technology, rigorous research and development by major companies, and strong medical infrastructure. Players are continuously working in the global substance abuse treatment market. They also enter into distribution agreements to strengthen their presence across the globe. Key events in the market include submission of provisional patent application to the USPTO for proprietary pure cannabidiol compositions by Normaco in October 2018, approval of SUBLOCADE, by the FDA, launched in the U.S. in March 2018, and U.S. FDA approval for the ANDA for methadone hydrochloride (5 mg and 10 mg) tablets for Glenmark Pharmaceuticals and its strategic partner Elite Pharmaceuticals, Inc in August 2018.
https://researchnewspaper.com/substance-abuse-treatment-market-projected-to-gain-significant-value-by-2024/
The point being revenues for our bottom line. Sell or wrap up Negotiations with partner. Keep stacking those Bricks Mr. Nasrat.
ELTP$$$$
NORTHVALE, NJ / ACCESSWIRE / September 12, 2019 / Elite Pharmaceuticals, Inc. ("Elite" or the “Company") (ELTP) a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, today announced that it received approval from the US Food and Drug Administration (FDA) for an Abbreviated New Drug Application (ANDA) for a generic version of Tylenol® with Codeine (acetaminophen and codeine phosphate) 300mg/15mg, 300mg/30mg, and 300mg/60mg tablets.
Sales brand and Generics $45 Million
Number of Competitor Including brand per FDA Site or CC - 7
Will be launched 2020 calendar
ELTP$$$$
https://finance.yahoo.com/news/elite-pharmaceuticals-receives-fda-approval-110000701.html
Some Prescriptions May Be Hard to Fill at Area Pharmacies
Some people say it is getting harder to get their hands on commonly used prescription drugs.
A consumer reached out to the NBC 6 Responds Unit after he says he was unable to fill his prescription for medication to treat attention deficit disorder.
A search online brings up several forums where people are complaining about not being able to fill prescriptions for medication to treat ADD and attention deficit hyperactivity disorder across the country.
One person wrote, "In West Coast Florida, have called 6 pharmacies this morning, all are out."
Another person wrote, "South Florida definitely has a shortage."
When we looked on the U.S. Food and Drug Administration's drug shortage database, we did not see several of the medications consumers complained they couldn't find.
An FDA spokesperson sent us the following statement, "The FDA has contacted the manufacturer of Adderall and generic manufactures of Adderall. The brand Adderall has been reported as available. At this time, generic manufactures are reporting sporadic back orders of various strengths, with sustained normal market supply expected to resume within April/May timeframe. We continue to communicate with manufactures of these drug products for market supply availability."
Child and Adolescent Psychiatrist Dr. David Rube says patients shouldn't panic or immediately switch their prescription.
"This is not an indication to switch up medication profiles because these things to tend to be temporary," Dr. Rube said. He says these types of back orders happen from time to time.
"Controlled substances are being extremely controlled and there are only X amount being made. So more kids that come up the rank, and the more adults that get diagnosed with ADHD there are more prescriptions of these medications being used," Dr. Rube said.
He encourages patients to do what they can to stay on their prescribed treatment plan. Some patients may need to reach out to their insurance provider.
"Some insurance companies only allow you to take brand, some insurance companies only allow you to take generic, the real issue is trying to find a medication that most closely fits what the child is taking," Dr. Rube said.
He also suggests visiting a locally-owned and operated pharmacy because he says they have access to more drug distributors. Pharmacist and pharmacy owner Steven Pressman explains why.
"It's much easier for me to have multiple resources, than be one big company and maybe only have one resource," Pressman said.
He says locally-owned pharmacies order from several manufacturers, making it easier to keep medications in stock. If they can't find a particular medication, he says they have the option to compound prescriptions for patients.
"If a manufacturer is no longer making this drug, but people still need it, we reach out and we get the chemicals, to make it, and we can actually compound it," Pressman said.
He says it can be hard to tell when a backorder or drug shortage will end, but the FDA says supplies of medication to treat ADD and ADHD should be back to normal levels sometime in April or May.
https://www.nbcmiami.com/news/local/some-prescriptions-may-be-hard-to-fill-at-area-pharmacies/79407/
Lannett Begins Marketing Generic Adderall® XR
--Company Has Launched Five Products in Last Three Months--
PHILADELPHIA, March 31, 2020 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has commenced marketing a generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine capsule product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate), with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg and 30 mg capsules. Adderall XR® and its generic versions have an estimated IQVIA market value of approximately $1.3 billion for the 12 months ending January 2020, although actual generic market values are expected to be lower.
The company also said that in the last three months it has launched a total of five products. In addition to generic Adderall XR, the four other products include Propranolol ER, Lactulose Oral Solution, Nystatin Suspension and Numbrino® (Cocaine Hydrochloride Nasal Solution 4%), the company's branded local anesthetic product, recently approved by the FDA.
"Generic Adderall XR® extends our offering of treatments for Attention Deficit Hyperactivity Disorder (ADHD)," said Tim Crew, chief executive officer of Lannett. "As we have previously noted, while the market for Adderall XR is sizable, there currently are several generic suppliers for this product. Our entire team continues to work diligently to bring more affordable medicines to patients."
In March 2019, Lannett entered into an agreement with Elite Pharmaceuticals and SunGen Pharma to be the exclusive U.S. distributor of certain drug products, including generic Adderall® IR and generic Adderall XR®. Under the agreement, Lannett primarily provides sales, marketing and distribution support for the products, for which it receives a share of the profits.
Adderall XR®, a registered trademark of Shire Plc, is a central nervous system (CNS) stimulant, indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and Narcolepsy.
https://www.prnewswire.com/news-releases/lannett-begins-marketing-generic-adderall-xr-301032027.html
Pharmacist says drug supply chain interrupted by many factors amid outbreak
Atlantis Pharmacy fills nearly 6,000 prescriptions a month.
2 professors on staff monitor trends to avoid running out of medication, which helped ahead of the outbreak.
“We ran a list and made sure our patients have everything that they needed, to get ahead of the curve," said Pharmacist and Assistance Professor Erin Doval.
While the FDA tracks drug shortages, Atlantis Pharmacy Manager and Pharmacists Damien Simmons says that it doesn't paint a full picture.
“Watching the shortage of drugs is like watching the stock market," he told CBS12 News. "It goes up and down continuously.”
Simmons pulled up a website to show our crew how the pharmacy orders the supply. As he showed CBS12 News, while a medication may not be available through 1 manufacturer it's available through another.
He also says due to the pandemic, there have been many challenges that have interrupted the supply chain.
“The problem lies in the fact that big, big facilities if they have one person that tests positive, they have to shut down the whole wing," Simmon said. "So, everybody in that wing has to self-quarantine for 2 weeks.”
That slows down transporting stock from facilities to pharmacy shelves. In addition to facilities operating with less staff to abide by CDC guidelines.
Then stay-at-home orders have played a huge role in more demand for Adderall and Ritalin.
"All the kids are at home now, so guess what? They have to focus even more now. They have a professor on the other line that’s yelling at them on a Zoom class, with 30 other students, which is quite challenging," Simmons said.
The other big spike Simmons has seen if for Metformin, a diabetic medication.
"Most people are home and they tend to snack more and they are eating more, so the diabetics take more the medication now," he said.
Simmons says if your local pharmacy can't refill a prescription, it's important to talk to your doctors about other alternatives
https://cbs12.com/news/coronavirus/pharmacist-says-drug-supply-chain-interrupted-by-many-factors-amid-outbreak
Little history before earnings,
ELTP revenues are impressive – On February 10 ELTP reported results for the third quarter of fiscal year 2020 ended December 31, 2019. Consolidated revenues for the Third Quarter were $5.1 million, an increase of approximately 88% as compared to revenues for the comparable quarter of the prior fiscal year. The increase in revenues was largely attributed to revenues from the two products launched during the 2020 Fiscal Year, generic immediate release Adderall® and Dantrolene Capsules as well as strong growth in revenues relating to the sales of Isradipine capsules.
In December ELTP announced it received approval from the US Food and Drug Administration (FDA) for a generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg tablets. The product is a central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). According to IQVIA (formerly QuintilesIMS Health) data, the branded product and its equivalents had total U.S. sales of $1.3 billion for the twelve months ending October 2019. Generic Adderall XR is jointly owned and the second product approval for our Elite and SunGen Pharma LLC collaboration. Elite will manufacture and package the product on a cost-plus basis. Lannett Company, Inc. will be the exclusive U.S. distributor.
https://microcapdaily.com/everyone-is-talking-about-elite-pharmaceuticals-inc-otcbbeltp/125712/
On March 31 ELTP announced its marketing partner Lannett Company, Inc. has commenced product launch of Elite’s generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg capsules. Adderall XR®, including generic versions, have an estimated IQVIA™ market value of approximately $1.3 billion for the twelve months ending January 2020. Adderall XR® is a once-daily central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).
This generic Adderall XR® product is jointly owned by Elite and SunGen Pharma LLC and is the second product launched from their collaboration. Elite will manufacture and package the generic product on a cost-plus basis. Lannett Company, Inc. will be the exclusive U.S. distributor for the product and will provide sales, marketing, and distribution.
Currently trading at a $74 million market valuation ELTP does have $1.8 million in the treasury, $24 million in assets and $7.7 million in current liabilities. ELTP is an exciting story in small caps with a number of FDA approved drugs already on the market reporting significant sales – ELTP reported $13,049,340 in revenues for the 9 months ended December 31, 2019 up from $6.2 million for the same period in 2018.
https://microcapdaily.com/everyone-is-talking-about-elite-pharmaceuticals-inc-otcbbeltp/125712/
NORTHVALE, NJ / ACCESSWIRE / June 29, 2020 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the fiscal year ended March 31, 2020 ("Fiscal 2020").
Consolidated revenues for Fiscal 2020 were $18.0 million, an increase of $10.4 million or approximately 137% from the comparable period of the prior fiscal year. The increase in revenues was largely attributed to revenues from products launched during the 2020 Fiscal Year, generic immediate release Adderall®, generic extended release Adderall®, and generic Dantrolene Capsules, as well as strong growth in revenues relating to the sales of Isradipine capsules.
https://finance.yahoo.com/news/elite-pharmaceuticals-inc-reports-financial-225500663.html
2,11,4
22,4,2
Good Luck Everyone!
Posted by Meshcan.
Here are some additional data to make it easier!
Lannett's debt is $705 Millions with Market cap of $246 Millions so Debt to Market Cap ratio is 705/246 = 280%
Elite's debt is $4 Millions with Market cap of $58 Millions so Debt to Market Cap ratio is 4/58 = 7%
ELTP, $7,630,500. Thank you, King.
ELTP$$$$
From the last CC,
Can you provide guidance for Q1, 2021 which is this quarter? Please provide some type of forecast for the next few quarters as we haven't had much information in the last five months.
I will share with you what I know and that is the quarter ending today we will hit the $7 million in revenues and that quarter would not have any profit splits from the ER, is that right, Carter? We don't see any profit splits this quarter.
Carter Ward
No. There should be some.
Nasrat Hakim
Yes, very minimal because of the launch, okay. So the quarter will end today. We will hit the $7 million. The last quarter was almost $5 million.
Carter Ward
Just under $5 million.
https://seekingalpha.com/article/4356443-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-on-q4-2020-results-earnings-call-transcript?page=5
Kroger sells it also. Was verified last month.
Anyone who would suggest different is be dishonest.
ELTP$$$
Concur. Just stirring the pot. lol
ELTP$$$$
A few nice slaps will do it.
ELTP$$$
Absolutely!
ELTP$$$$
TDA has ELTP earnings 8/7/2020 after market central standard time.
ELTP$$$
ELTP + 12.5 % Two trading days.
Bid rising and ask is thin.
ELTP$$$$$
Excellent channel for ELTP facts and transparency.
Dianne Will
Vice President of Investor Relations and Corporate Affairs
Telephone: 518-398-6222
Email: dianne@elitepharma.com
Ask really thin. Would not surprise me to see .07
+8.06%
ELTP$$$$$$
No worries, Sharkey1. Good times coming. We have been taking shares off the table also.
ELTP$$$$$$
Public Float 757.07 M
https://www.wsj.com/market-data/quotes/ELTP
Elite Pharmaceuticals, Inc. engages in the research, development, manufacture, and licensing of proprietary orally administered controlled-release drug delivery systems and products. The company operates in two segments, Abbreviated New Drug Applications for Generic Products and New Drug Applications for Branded Products. It owns, licenses, and contract manufactures various generic and oral dose pharmaceuticals products, such as Phentermine HCl 37.5mg tablets for the treatment of bariatrics under Adipex-P brand; Hydromorphone HCl 8mg tablets for pains under the Dilaudid brand; Phendimetrazine Tartrate 35mg tablets for bariatrics under the Bontril brand; Naltrexone HCl 50mg tablets for the treatment of pains under the Revia brand; and Isradipine 2.5mg and 5mg capsules for cardiovascular diseases. The company also provides Oxycodone HCl immediate release 5mg, 10mg, 15mg, 20mg, and 30mg tablets for pains under Roxycodone brand; Trimipramine Maleate Immediate Release antidepressant capsules under the Surmontil brand; Methadone HCl tablets for pains under the Dolophine brand; and Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, and Amphetamine Sulfate Immediate Release tablets for central nervous system diseases under the Adderall brand, as well as Dantrolene Sodium capsules for muscle relaxant under the Dantrium brand; and SequestOX, an immediate release Oxycodone with Naltrexone. In addition, it manufactures controlled-release products on a contract basis for third parties in the areas of pain, allergy, bariatric, and infection. Further, the company is developing a range of abuse deterrent opioid products. It has a manufacturing and license agreement with Epic Pharma LLC; development and license agreement with SunGen Pharma, LLC; and strategic marketing alliance with Glenmark Pharmaceuticals, Inc. USA, as well as Lannett Company. Inc. The company was founded in 1984 and is headquartered in Northvale, New Jersey.
The increase in revenues can be attributed to the three products that we launched during fiscal 2020. Those are generic Adderall, immediate-release Adderall, generic Dantrolene and to a lesser extent for fiscal 2020 at least generic extended-release Adderall. The extended-release Adderall was launched at the very end of 2020 fiscal year.
So remember, our revenues consist of two distinct streams. There's manufacturing revenues and there's profit splits. The manufacturing revenues, those are earned when we make and we ship the product. So those increased from $5.4 million in 2019 to $14.5 million in 2020. It's a $9.1 million increase or a 166%. The main drivers here are the three generic products launched this year, ones I just mentioned immediate release Adderall; extended release Adderall and Dantrolene and our existing products prior to those from the prior years. They've also had very strong years especially Isradipine and Naltrexone. You also have to give it a lot of credit to our manufacturing lab and quality personnel, as well as our supply chain partners. All have done a phenomenal job ensuring that we continue to run on all cylinders producing record volumes, shipping record volumes and all of this during the current Covid pandemic.
So that's quite an achievement, really remarkable what everybody has done. The other parts of our revenues are profits splits and those we earn as our marketing partners sell into the market. These depend on the timing of their in market sales so there's a natural lag of a few quarters up to even four or could even be six quarters from when we manufacture to when those in market sales are achieved. And when we earn those profit split revenues. So profit splits, they're up from $2.2 million in 2019 to $3.5 million this year. So that's a $1.3 million increase or 59%. So you notice there's a lower rate of increase in profit splits as compared to manufacturing revenues. And this is due to the timing lag I just mentioned between the two types of revenues especially since the extended-release Adderall was launched during the last month of the year. So we ship launched quantities during March 2020, but other than a $375,000 milestone earned when we launched the product, will be earning the profit split revenues as our marketing partner which is Lannett as they sell it into the market. So it takes a few quarters after the product launch for the profit splits to start coming online.
So immediate release Adderall and Dantrolene were launched earlier in the fiscal year, fiscal 2020. So they've already started to positively impact on profit split revenues. And amphetamine, the Adderall extended release has not yet impacted profit split revenues because they were launched right at the end of the year. But we do expect additional contribution from the extended release Adderall as those profit splits start to come online over the next few quarters. So you put the increases in both manufacturing revenues and profit split together, you get total revenues going up from $7.6 million to $18 million in a single year. So before moving on, I think it's important to keep in mind that extended release Adderall has just been launched and the immediate release version of Adderall as well as Dantrolene they're both relatively new in the market.
Our marketing partner has done a great job with all of these products, but there's still room for growth in the future. So moving down the P&L, we come to research and development expenses, which went down from $7.6 million last year 2019 to $5.5 million this year fiscal 2020. That's a $2.1 million decrease or 28%. As I've always said there are two things to always keep in mind when it comes to R&D expenses. First is that R&D is the lifeblood of any pharmaceutical company. A large part of the $7.6 million that we spend in 2019, they went to the products that were launched in early 2020 and part of the $5.5 million spent this year in 2020 also went to the product that we launched at the very end of fiscal 2020.
https://seekingalpha.com/article/4356443-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-on-q4-2020-results-earnings-call-transcript?page=2
Just the Buzz:
The Buzz on Elite Pharmaceuticals Inc (OTCBB:ELTP)
BY BOE RIMES ON JULY 5, 2020
Elite Pharmaceuticals Inc (OTCBB:ELTP) continues to be among the most talked about and active stocks in small caps in recent months. ELTP has long been one of the top most traded stocks on the entire OTC boasting a massive following and legions of shareholders. The stock used to trade as high as $22 a share on the AMEX but was de-listed to the OTCBB in 2009 where it sat dormant for several years. As everyone knows; ex big board stocks that hit the OTC tend to make highly explosive moves which is exactly what ELTP did last year running from $0.10 to highs near $1 a share.
There is a lot going on at ELTP; several days ago Elite’s management held a conference call and by all accounts CEO Nasrat Hakim handled it like a pro; first quarter 2020 revenues are $7 million in spite of Covid with Walgreens now accounting for around 15% of the total market. Several days before this ELTP announced consolidated revenues for fiscal 2020 were $18.0 million, an increase of $10.4 million or approximately 137% from the comparable period of the prior fiscal year.
Elite Pharmaceuticals Inc (OTCBB:ELTP) is a specialty pharmaceutical company which is developing a pipeline of niche generic products. Elite specializes in oral sustained and controlled release drug products which have high barriers to entry. Elite owns generic products which have been licensed to TAGI Pharma, Glenmark Pharmaceuticals, Inc., USA., and Lannett Company, Inc. Elite currently has eleven approved generic products, three generic products filed with the FDA, one approved generic products pending manufacturing site transfer, and an NDA filed for SequestOx™. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.
Elite’s principle product is SequestOx™, an immediate-release oxycodone with sequestered naltrexone abuse-deterrent opioid product for the management of moderate to severe acute pain. Additional products include bariatric, cardiovascular, antihistamine, skeletal muscle relaxants, antipsychotic, tricyclic antidepressant, along with a number of approved products pending manufacturing site transfer. Elite’s lead pipeline products include abuse-deterrent opioids which utilize the Company’s patented proprietary technology and a once-daily opioid. These products include sustained release oral formulations of opioids for the treatment of chronic pain. These formulations are intended to address two major limitations of existing oral opioids: the provision of consistent relief of baseline pain levels and deterrence of potential opioid abuse.
In December of last yeart ELTP announced it received approval from the US Food and Drug Administration (FDA) for a generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate) with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, and 30 mg tablets. The product is a central nervous system stimulant and is indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).
https://microcapdaily.com/the-buzz-on-elite-pharmaceuticals-inc-otcbbeltp/126297/
Just a footnote for fresh eyes.
NORTHVALE, NJ / ACCESSWIRE / June 29, 2020 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (ELTP), a specialty pharmaceutical company developing niche generic products, announced results for the fiscal year ended March 31, 2020 ("Fiscal 2020").
Consolidated revenues for Fiscal 2020 were $18.0 million, an increase of $10.4 million or approximately 137% from the comparable period of the prior fiscal year. The increase in revenues was largely attributed to revenues from products launched during the 2020 Fiscal Year, generic immediate release Adderall®, generic extended release Adderall®, and generic Dantrolene Capsules, as well as strong growth in revenues relating to the sales of Isradipine capsules.
https://finance.yahoo.com/news/elite-pharmaceuticals-inc-reports-financial-225500663.html
11,4,12
Good Luck Everyone!
Interesting facts,
We're going down the list," Boehler said in an interview with Just the News. "Look at masks, gloves. Right now, rubber gloves, they're 80%, 90% made outside of the country, we can't have that risk. It doesn't mean we can't buy from certain sources. But you've got to think about it like a backup generator. You've got to have those sources in the United States, too. So we're going through list of items of PPE. We're looking at generic pharmaceuticals, a number of other areas as well."
https://justthenews.com/politics-policy/all-things-trump/kodak-first-step-trump-white-house-plans-new-ways-break-chinese?amp&__twitter_impression=true
Nasrat Hakim
They offered Elite to buy amphetamine IR and ER but insisted also on 100% in cash. I called the Board meeting. Mr. Ward informed us that we cannot afford to spend that kind of money on new products. We do not have it and we cannot raise it. After Elite rejected the offer that's how Mika ended up with the enders by stepping in. It is my hope that eventually Elite will end up with these two products. Okay. A question from the stockholders as why there was no 8-K and the answer is simple; this transaction was between two privately held companies after Elite was given the right of first refusal and rejected the offer. Further, there is no impact on Elite. The impact on Elite really for this transaction is zero. All Mika is step into SunGen's shoes, that's it. That had no impact on Elite whatsoever. As a matter of fact there are positive impacts on Elite that I will not go through in here today. That did not require an 8-K but we did publish this event as a part of our 10-K. We included it in detail in our 10-K.
Our Positive Impact.
https://seekingalpha.com/article/4356443-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-on-q4-2020-results-earnings-call-transcript?page=5
I guess the daily ELTP PPS Micky Mouse trades manipulation has nothing to do with the decrease. Once the volume picks up it seems to take a break.
Nasrat Hakim
Okay. Thank you, Carter. Next question is on increased and authorized, was the increase in shares issued related to CEO holding and how can you guarantee investors that further dilution will not happen?
A part of it was due to the Series J. But the other parts were for us to have the ability to have to conclude business opportunities similar to the one I just explained to with SunGen. If these shares were available and they were presented and we could actually catch them out we would have had a very good deal with a company, which had a lot of product in that pipeline including some that are first to file and [paragraph] for filings. You always need the ability to maneuver otherwise we continue producing very little and taking that very little first getting to the point of breaking even and then maybe a little bit profitable and that little im-profitability will take us forever to get one product through the market. And maybe one of these days we should have a Board with the stockholders if that's the rate that we need to go on that's the rate we have to go on. But for us, to go after new products and get the companies next level and increase revenues and all the things that people ask me to do, and do it with nothing that's asking a little too much. So, yes, there is a potential that we may be using some of these shares but anything we use is for Elite benefit and for the stockholders benefit, okay. Nothing extravagant. It's all R&D related that we hope the return on the investment will be several folds once the R&D succeeds.
https://seekingalpha.com/article/4356443-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-on-q4-2020-results-earnings-call-transcript?page=6
A better question would be how many GMP and DEA registered facility for research, development, and manufacturing are located in the US?
The Government is hungry. Hmmmmm
ELTP$$$$$
Concur, sharkey1.
Bid building.
We felt the bottom was set yesterday. Will be interesting to see if the manipulation continues short term. Ask very thin at the moment.
ELTP$$$$
JMPO
Nice 8 percent green this ELTP $$$ AM.
Welcome back Friend.
RizZo