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I agree they most likely knew that for a while. At least a few months. I'm guessing they might have already started requested testings and etc for re-filing by Dec 2019
See below from yesterday CC transcript. Agreed with NASDAQ2020, it was a bidding war because it was for Adderall and ER CNS (which I believe is Adderall XR), so two drugs with combined market cap of $2 billion. It is tempting for any marketing company!
“For the mixed Amphetamine product, we chose a new marketing partner that we believe was the best fit for SunGen and Elite. We actually interviewed several companies. They made bids on the product, all of them wanted it, and we selected one that was in definitely the best interest of SunGen and Elite.”
I agree SequestOx would be a complete game changer with no equivalent drug.
Stay long.
REMINDER: List of ELTP Filed Drugs with FDA and more
Good times ahead of us. Getting closer! It is time to change some of those cells to GREEN.
Stay Long, Stay Strong!
(NASDAQ2020: This is updated table. Listening to the CC I believe 2nd ANDA with Sungen is generic Adderall XR, Nasrat said expecting approval Q2 and launch shortly after, so 1st and 2nd Sungen ANDA should be from same drug family as they have already purchased API and secured quota for generic Adderall IR, 1st Sungen ANDA).
Agreed. We are getting close to fly over OTC market.
Patience is the key.
Stay long!
I'm assuming that Elite is still collecting money from Epic for Oxycodone that they developed for Epic.
From recent 10Q:
"
Oxycodone 5mg, Oxycodone 10mg, Oxycodone 15mg, Oxycodone 20mg and Oxycodone 30mg (“Oxy IR”)
We received notification from Epic in October 2015 of the approval by the FDA of Epic’s ANDA for Oxy IR. This product was an
Identified IR Product in the Epic Strategic Alliance Agreement Dated March 18, 2009 (the “Epic Strategic Alliance”). Oxy IR was developed at the Northvale Facility pursuant to the Epic Strategic Alliance, in which we are entitled to a Product Fee of 15% of Profits as defined in the Epic Strategic Alliance. The first commercial sale of Oxy IR occurred in March 2016, and sales by Epic of this product are ongoing.
"
Exactly! Let's REMEMBER that "The stock market is a device for transferring money from the impatient to the patient." – Warren Buffett
I agree with this and we see some signs that Elite is going toward this.
"
If the company can successfully increase the output of the factory with controlled substances and other high-margin drugs that cannot be manufactured more cheaply overseas, then we could eventually reach profitably in the range of hundreds of millions of dollars and a share price of multiple dollars.
"
I agree with this.
Refer to recent Conference call, Sungen will do marketing and Sales for co-developed drugs.
Yes, 2019 is promising! Will be greener!
GLTA
I believe they will PR them because they are big drugs. However I don't think Glenmark would market them. Glenmark seems to be in small drug business. I believe Nasrat is looking for bigger Marketing arm for those he mentioned something very briefly in this regard in one of recent conference call if you remember.
Great post! One question, is P/E 12 is reasonable for Elite? What would be your best estimate for min and max of P/E?
Good time ahead!
GLTA
Great Post. Thanks WeeZhul
Thanks NASDAQ2020, I knew some young smart people remember details to help this old fellow :)
I know the name of company that did evaluation was never disclosed but these numbers $0.40---$2.10---$2.75 I belive were disclosed by Elite (Nasrat), correct? Were these numbers mentioned in any PR or CC? Do you have any link that I can refer to?
Thanks again.
Question: Could anyone please refresh my memory about Elite valuation when they filed Poison Pill. I kinda remember Min. $0.4/share, Medium $2.1/share and Max. ??? and if my memory serves me correctly it was based on Elite situation and its portfolio at the time which was 2013 (?). Today Elite is way more valuable than that time for sure.
Thanks in advance.
Success for Elite never been closer! They are building a long list , 41 drugs and counting....
GLTA
Great post!
NASDAQ2020 :)
Great News!
This is another reason that SequestOx is ALIVE!
No, it is not. As per CC Elite is talking with FDA about it, worst case scenario Elite has to re-file but it is not dead. PERIOD.
Meanwhile, yes Elite will have revenue and cash to file again and do more study and test. Probably question would be from where Elite will bring money? Simple answer, just look at the other 6 drugs in my table which they have Annual sales over $300 millions, Elite will play in 6 other big playground. It is a big game!
Exactly! Many can't realize what happened to Elite after July 2016. As a reminder, back then, Elite's only big hope to go to dollarland was SequestOx which all of sudden FedTmax issue came up! BUT look at my table now we have 7 drugs including SequestOx which will take Elite to dollarland and beyond. That is big move by a very small pharma company.
Elite is truly in its strongest position ever.
Stay long.
Happy New Year!!!
It will be sold by Glenmark. This is one of the four drugs that Nasrat said in CC will be launched by Glenmark.
Good times ahead
Merry Christmas!
Agreed